Thanks in part to the recent opening of a massive new US$2 billion gaming resort, Macau’s casinos generated 24.3 billion patacas (US$3 billion) in May, an astounding 42 percent spike over May 2010 and a 19 percent uptick over record April 2011 figures.
This was the first time monthly Macau revenues surpassed US$3 billion, continuing an impressive 2011 for the special autonomous region, which has seen its revenues jump 43 percent compared to the same five month in 2010.
“[Macau has] beaten my expectations. We will need to have another look at our gaming revenue forecasts for the full year on the back of this,” Philip Tulk, head of Asian Conglomerates and Gaming at RBS in Hong Kong, told Reuters.
Credit for the most recent revenue increase has been given to the May 15th opening of Galaxy Entertainment’s Galaxy Macau on the Cotai Strip and its decision to concentrate on the more middle class/mass market Chinese consumer.