Figures published by Macau’s Gaming Inspection and Coordination Bureau (DICJ) show that December gross revenue rose 66.4% compared to the same month last year. This was echoed by a 57.8% increase in accumulated gross revenue for 2010 compared to 2009. At over 188 billion patacas (about US$23.4 billion), Macau’s annual GGR is not far from doubling the record US$12.8 billion that Nevada casinos made in 2007. In response MGM Resorts International’s stock rose 3.4% yesterday and shares in Wynn Resorts and Melco Crown rose 3.8% and 5.4% respectively.

Macau’s record results for both monthly and annual gross gaming revenue seems to have been driven by an increase of visitors from mainland China, something the authorities previously have tried to check. Chinese visitor numbers grew 20.5% in the first eleven months of 2010. Analysts generally believe that gaming revenue in Macau will remain buoyant in 2011 with growth of 20% or above. 2011 will see the opening of two more large gaming resorts and a further 25% of revenue growth is being predicted for 2012.

The six companies operating casinos in Macau are still vying for market share. The once held casino monopoly of SJM Holdings presently has a 30.6% share of the market, followed by Wynn Resorts at 16.9%. Close on Wynn’s heels is Sands China with 16.4% while Melco Crown holds 14.2%. MGM Grand Paradise stands at 11.6% and Galaxy Entertainment at 10.3%. The results are little changed from November although Sands China has increased market share marginally. (E-01.04.11)

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