Macau gaming revenues hit $3.4 billion in February
Macau casinos collected $3.4 billion in gaming revenues during February, a 12 percent increase compared with a year ago, according to figures released Friday by the Macau Gaming Inspection and Coordination Bureau.
For the first two months of 2013, Macau gaming revenues are up 9.4 percent over the same period in 2012.
Last year, Macau collected a record-setting $38 billion in gaming revenues.
RBC Capital Markets gaming analyst John Kempf told investors the February results “were encouraging” after the start of the Chinese New Year celebration during the month was slower than anticipated.
“It is likely that VIP volumes increased post Chinese New Year as the players avoided the crowds and extended their holiday past the typical seven to 10 days,” Kempf said.
Union Gaming Group principal Grant Govertsen said the mass market business trends in Macau “have never been stronger.”
Govertsen told investors there have been high levels of foot traffic throughout Macau, on both the peninsula and Cotai Strip markets.
Las Vegas Sands Corp., Wynn Resorts Ltd. and MGM Resorts International operate hotel-casinos in Macau. All three companies are building new resorts on Macau’s Cotai Strip.
Contact reporter Howard Stutz at hstutz@reviewjournal.com or 702-477-3871. Follow @howardstutz on Twitter.
