After the latest research figures for 2013 it is now clear that gamblers in Macau wager in just 24 hours, the equivalent of a whole week in Las Vegas strip. Revenues from gambling rose 19% up to $45.2 billion in 2013, making the tiny territory the world’s casino capital.
According to analysts, Macau now leads the world in gambling revenues producing about 7 times as much profit in 2013 as Las Vegas did in the same period. Karen Tang, an analyst from Deutsche Bank, has forecasted even further growth for 2014. In fact it is expected that Macau’s revenues will grow even further to 20% in 2014, and up to $77 billion by 2017.
China opened the doors to its former Portuguese colony to foreign casino operators in 2002 but never imagined the gambling business would boom to such levels as shown in 2013 figures. A dozen years ago, Macau’s wagering revenues reched barely $3 billion a year but has since risen to become the world’s most profitable casino destination with 35 casinos spread over just 11.5 square miles with many more to come in the coming years.