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Casino operators in Macau continue to bring in the big money.
According to CLSA Ltd. gaming revenue in the region was up by 90% to 9 billion patacas ($1.12 billion) in the first few weeks of May, compared to numbers from a year earlier.
Revenue growth for casinos in the only Chinese city where they are legal is accelerating, rather than slowing down because of the “tightening” in China, CLSA analyst Aaron Fischer said.
Gambling revenue rose by 70% during the month of April to more than 14.1 billion patacas and was up by 57% in the first quarter to approximately 41 billion patacas, according to the city government.
In 2006 Macau surpassed Las Vegas as the world’s biggest gambling center by revenue.
“It looks like some of the casino operators are significantly increasing their working capital, or the amount lent to junket operators, who are paid commissions to bring in high rollers,” said Fischer.
SJM, controlled by billionaire Stanley Ho, said first-quarter profit rose more than fivefold to HK$760 million ($97.4 million) on increased revenue from high rollers.
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