Macau gaming revenues grow 8 percent in November
Revenues generated by Macau's gaming industry grew 8 percent in November as the Chinese region's casinos collected $3.1 billion from gamblers.
After the figures were released Monday by the Macau Gaming Inspection and Coordination Bureau, analysts said the casino market results were driven by strong play by mass-market customers rather than high-end gambling.
Wells Fargo Securities gaming analyst Cameron McKnight said economic data from China last week indicated the economic environment in the region may have stabilized.
Through the first 11 months of 2012, gaming revenues in Macau have grown 13 percent. A year ago, Macau casinos collected $33.5 billion in gaming revenues, more than five times what casinos on the Strip collected.
"We find the (November) result to be largely in line with recent expectations and see the strength against a difficult comparison as a firm positive," Deutsche Bank gaming analyst Carlo Santarelli told investors.
In October, Macau casinos collected $3.5 billion in gaming revenues, the highest single-month revenue figure in the gambling market's history.
Las Vegas Sands Corp., Wynn Resorts Ltd., and MGM Resorts International operate casinos in Macau.
Contact reporter Howard Stutz at hstutz@reviewjournal.com or 702-477-3871. Follow @howardstutz on Twitter.
