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Macau Casinos Set Gambling Revenue Record

Gaming experts revealed that Macau casinos had already set a new record in October so far, analyst John Kempf from RBC Capital Markets claiming that gross gaming revenue until 27 October reached $4.1 billion, surpassing the record $3.93 billion collected in March. Kempf explained that China is currently seeing an economic growth of 7.8 percent year-on-year in the third quarter of 2013, figure which topped the predicted 7.5 annual growth target.

World-renowned operators and gaming suppliers like MGM Resorts, Las Vegas Sands, Wynn Resorts and many others which opened land based casinos in Macau contribute in terms of jobs and taxes to China’s thriving economy. Other gaming analysts predict that the gaming revenue figure for October will hit $4.52 billion and will top the March record by no less than 30 percent. Analysts at Wells Fargo also expect Macau to generate revenue 30 percent higher than in October 2012.

Macau casinos continue to appeal to both mass-market casino visitors who come from mainland China and VIP high-rollers who are enticed by the luxury of the casinos offered by this lucrative gaming market. Furthermore, analysts speculate that Macau might even become the first gambling hub to surpass the $100 billion record in the next few years.

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