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Macau Gambling Revenue Hits Record

Written by:

Guest

Published on:

May/04/2010

(Reuters) - Gambling revenue in Macau in April surged 70 percent from a year earlier to a record, Royal Bank of Scotland (RBS) (RBS.L) said, underscoring sustained growth in the world's largest and fastest-growing gambling market.

STOCKS

Revenue reached 14.1 billion patacas ($1.76 billion), RBS said in a broker report on Tuesday, citing Portuguese news agency Lusa. The figure surpassed the previous record set in January of 14 billion patacas.

Macau's gambling revenue data is leaked to Lusa before it is published by Macau's Gaming Inspection and Coordination Bureau, the enclave's gambling regulator. The regulator was not immediately available for comment.

SJM Holdings (0880.HK), Macau gambling tycoon Stanley Ho's flagship company, continued to lead in terms of market share. It held slightly more than 33 percent of revenue in April.

Sands China (1928.HK), the Macau unit of Las Vegas Sands (LVS.N), was No.2 with slightly more than 21 percent. Wynn Macau (1128.HK), the Macau unit of Wynn Resorts (WYNN.O), had 14 percent of the market, while Melco Crown Entertainment (MPEL.O) controlled 13 percent.

Shares of Macau casino operators fell between 0.4 and 3 percent, underperforming Hong Kong's benchmark Hang Seng Index .HSI, which lost 0.23 percent.

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