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  • vlahosa2000 vlahosa2000 Oct 18, 2007 6:57 PM Flag

    Macau's 3Q Gaming Revenue Rises 46 Percent to US$2.6 Billion

    Macau's 3Q Gaming Revenue Rises 46 Percent to US$2.6 Billion

    HONG KONG (AP) -- Macau's casino gambling revenue in the third quarter surged 46 percent to 20.34 billion Macau patacas ($2.55 billion) from 13.95 billion patacas a year ago, regulators said Thursday.

    The third-quarter figure brings Macau's total casino gambling revenue for the nine months ending Sept. 30 to 58.32 billion patacas ($7.3 billion). That's 47 percent higher than the 39.70 billion patacas recorded for the same period last year and already beats gambling revenues for all of 2006.

    The Gaming Inspection and Coordination Bureau didn't elaborate on the figures it posted on its Web site, but analysts said earlier they expected casino operators' winnings from bets by high-rollers to help boost casino gambling revenue in the territory.

    The former Portuguese colony is the only place in China where casino gambling is legal.

    High-rollers are gamblers who typically spend at least half a million patacas ($62,620) on casino betting on each trip to the territory, according to analysts and casino industry executives.

    Macau casino winnings from bets by high-rollers between July and September totaled 13.67 billion patacas ($1.7 billion), making up 67 percent of the city's third-quarter casino gambling revenue.

    Analysts also said earlier the opening of new casinos in Macau this year had attracted more gamblers to the territory, increasing casino gambling revenue there.

    Las Vegas Sands Corp.'s $2.4 billion Venetian casino resort in the Cotai area, which opened in late August, is among the three major new casinos launched in the past nine months.

    Macau ended the 40-year monopoly of casino gambling in the territory held by casino mogul Stanley Ho in early 2002. Since then the territory has granted six casino licenses to several casino operators.

    Macau beat the Las Vegas Strip last year as the world's gambling center. The city raked in $6.95 billion in gambling revenue, while the Strip made $6.69 billion, regulators in the cities said.

    The former Portuguese enclave reverted to Chinese rule in December 1999.

    Macau's 3Q Gaming Revenue Rises 46 Percent to US$2.6 Billion

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