- Macau table games revenues exceed all expectations
- Asian investments paying off handsomely for Wynn Resorts and Las Vegas Sands
In fact, this Asian hub has become so popular that most leading casino conglomerates have already set up shop there and after seeing the latest numbers, it isn’t hard to see why.
Where’s Las Vegas?
During the last year, Macau generated $31 billion in revenues. This number, as impressive as it is on its own, is even more stunning when compared to Las Vegas Strip, which generated just $6.5 billion in the same period.
The number of casino tables allowed in Macau is restricted, but currently stands at 6,413, so doing some simple math, we get the average number of $4.8 million contributed by each table during the year. Of course, some successful venues make much more than that.
Biggest Macau casinos
With these numbers on the table, it is clear why big Las Vegas casinos were right to branch out to Asia and claim their stake there. Two of the biggest stakeholders in Macau are, by far, Wynn Resorts and Las Vegas Sands, whose investment in the east paid off handsomely.
Casino moguls Steve Wynn (Wynn Resorts) and Sheldon Adelson (Las Vegas Sands) are among the US businessman seeing huge returns on their investments, and no doubt patting themselves on the back for having the foresight to see the potential of the market.
Wynn’s revenues increased to more than $1.5 billion in the period April – June 2017. This is an increase of nearly $471 million when compared to the same period in 2016.
This jump is mostly thanks to their Macau venues, Wynn Macau and newly opened Wynn Palace. Combined, these two casinos posted yearly net revenue of $893 million, heavily contributing to the overall bottom line.
As for Las Vegas Sands, their Asian investment has also paid off big time.
Their overall revenue has increased to over $3 billion, with their Q2 earning being significantly higher than Wall Street’s analysts predicted. A large part of Q2 revenue came from their Macau property, The Parisian, which brought in $361 million, posting a 13% growth in comparison to Q1 of 2017.
Future of Macau gambling
These big increases for US-headquartered casino giants is thanks to Macau, and specifically its Chinese clientelle.
The Chinese-owned semi-autonomous state is the only place in the country that allows gambling – a fact that many of the industry leaders recognized.
As the Chinese market is unfathomably huge – it’s no wonder the casino resorts are doing well.
The apparent love for gambling that’s present in Asia serves almost as a guarantee that the action in Macau will always be strong, and the fact the region attracts a great number of high rollers further cement Macau’s bright future.
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