Macau gaming revenues rise 48% in July

By Kate O’Keeffe, Dow Jones Newswires

Gambling revenue in Macau rose 48% in July from a year earlier, government statistics showed Monday, as visitors from mainland China continued to power growth in the world’s largest casino gambling market.

Gambling revenue in the Chinese territory rose to MOP24.21 billion (US$3.0 billion) last month, up from MOP16.31 billion a year earlier, according to data from Macau’s Gaming Inspection and Coordination Bureau.

July’s revenue was second only to the all-time high of MOP24.31 billion hit in May, which was bolstered by the holiday season and the opening of Galaxy Entertainment Group Ltd.’s new casino resort.

In the January-July period, Macau’s gambling revenue rose 45% from a year earlier, following a 58% surge last year. Macau is the only place in China where casino gambling is legal.

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