MARCH 22, 2013 BY DAVID SHELDON
The economy may still be crawling back on its belly everywhere else, but in Macau, money seems to be falling out of the sky, at least for its lucrative casino industry.
A J.P. Morgan analyst estimates that March gross Macau gaming revenues for the world’s most successful gambling destination ever will top out at $3.67 billion, a new monthly record even for Macau. With the final monthly tallies not even in yet, it’s predicted that final intakes could end up at a 25 percent increase over the same time in 2012, and it looks like that’s thanks to a proliferation of Asian whales, a sector that appears to have exploded with a 15 to 20 percent growth rate this year.
On the Other Side of the Coin
Talk about trickle-down economics: seems most of Macau’s casino industry employees are also having a good year so far. In a 2013 survey known as the Macau Employee Confidence and Satisfaction Index, 1,026 employees responded about their various levels of job satisfaction, as well as their overall job confidence. Although slightly down from last year’s Index, the movement downward was subtle enough to be able to categorize their feelings as “stable” in the mysterious world of index rankers.
Casinos Employ Many
With almost a third of the survey respondents working in Macau’s booming casino industry, it appears that non-casino employees have ever-so-slightly higher job satisfaction than their casino worker counterparts, with croupiers posting the lowest satisfaction out of the entire gaming employee group. When it comes to income, however, croupiers rake in the highest satisfaction of any of workers, gaming and non-gaming alike. Could all those incredibly wealthy Asian whales be both impossibly demanding and also great tippers when they win? Sure sounds like it.
The Year Ahead
Now it just remains to be seen if the rest of 2013 will be as lucrative as March looks like it will be when all the numbers are