MGM Macau making big bucks!

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The MGM in Macao has taken over the Bellagio in Vegas as the best performing casino in the portfolio for MGM resorts. One of the main reasons for this is the increase in high stakes gambling in Macao. The news comes after the company had suggested they were going to be listed on the Hong Kong stock exchange to raise a reported US$800 million. The MGM Macau booked record revenue of US$580 million in the three months to December, much larger than the figure recorded for the Bellagio casino in Vegas. One of the main reasons for this is the proximity in the China market and how people there are wanting to spend more and have the extra cash to spend on these luxuries. Having walked past the high stakes tables in MGM Macao, it can be seen just how much money is being spent by the Chinese, it is no joke, they do have the money.

First it was Singapore
reporting how the revenue they have earned in the last year has been tremendous and helped the economy a lot and now MGM Macao has announced that record revenues too. More casinos are being built in Macao right now and it is expected to perform much better than any place in terms of gambling revenue for many years to come. The surge in the number of Asian tourists traveling gives the internet business great opportunities too. People will be increasingly going online to look for information on what to do in these areas and maybe get some good packages.

Source: http://www.scmp.com

Image: xiquinhosilva
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