The recession is long over in Macau, where gambling growth is again reaching fantastic numbers and casino revenue is setting records almost on a monthly basis.

Revenue from casino gambling in Macau just reached an all-time high in January, but that record may not stand longer than 60 days as March seems likely to reach a new zenith. Three weeks into the month, revenue already equals all of February and seems sure to top January.

January gaming totals in Macau equalled $1.8 billion, a rise of 63 percent from the same month in the previous year, and the most Macau's casinos had done. So far in March, revenue is already at $1.68 billion, with eight days still to go in the month.

Sands China trailed only SJM Holdings, the casino empire Stanley Ho built from his years owning the region's gambling monopoly, in market share. The advances in Macau and bright prospects had led Las Vegas Sands stock to move from $10 a share at the New Year to almost $22 today.

Macau's potential also led to MGM Mirage's decision this week to sell its shares in Atlantic City's Borgata Casino. MGM executives feel their partnership with Pansy Ho in Macau is more important than owning the top casino in New Jersey.

Both Sands and MGM barely squeaked through the recession, as deb t payments came due right when income was in free fall. But Macau business prospects have bounced back faster and far higher than those of Las Vegas, so companies well-invested in the Far East have been the pick of the gaming industry recently.

Published on March 22, 2010 by JulieWong

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