Another banner month in Macau
Macau’s casinos posted gross gambling revenues of US$21.18 billion for the year through November, an increase of more than 56 percent over same 11 months in 2009.
Revenue for November exceeded $2.1 billion, a 42 percent increase over November 2009 and the second-highest monthly performance ever after October’s $2.3 billion, according to the government’s Gaming Inspection and Coordination Bureau.
At the end of September, there were 33 casinos in Macau, 20 of which were owned by Stanley Ho’s Sociedade de Jogos de Macau, three by Sands Macau, five by Galaxy Casino, three by Melco/PBL Jogos (Macau) and one each by Wynn Macau and MGM Grand Paradise, a joint venture of MGM Resorts International and Ho’s daughter Pansy Ho, a Hong Kong businesswoman.
MGM Resort's market share and revenues from Macau have increased in recent quarters. The company is planning an initial public offering on the Hong Kong Stock Exchange in the new year, following similar moves by SJM, Sands and Wynn. MGM Resorts filed the paperwork for the IPO with the Hong Kong Exchange in September.