Unofficial figures from Macau suggest that gambling revenue reached another record in October, higher by over 17% from the previous record set in September and up 42% from October 2008. However, tighter travel restrictions on mainland Chinese visitors are expected to impact November gambling revenue. Detailed official figures will not be published by the government’s DICJ until mid-January, after the end of the fourth quarter.
SJM is said to have held onto its market lead in October with a nearly 31% share of revenue. Las Vegas Sands appears to have fared better than Wynn last month and grew its share of the market to over 24% while Wynn’s fell to just over 12%. Melco International is now reported to hold 12.5% of the Macau casino market.
Official figures from the Pennsylvania Gaming Control Board show that October gaming revenues rose 32% from October 2008. In both Macau and Pennsylvania the 2008 figures were badly affected by the economic crisis. Hollywood Casino at Penn National Racecourse saw its revenues rise almost 25.5% this October compared to the same period last year. Mount Airy Resort and Casino, however, was down by over 19%.
Gaming Control Board Chair Greg Fajt commented that while tax revenue is certainly assisting Pennsylvanians statewide in obtaining a property tax reduction averaging nearly $200 and saving the horse racing industry, slot machine-generated revenue is also reaching into the local communities that host or are neighbours to casinos. Tax money contributed to local governments has been used for various programmes and projects, including economic development, road improvements, health and safety, community improvements and tourism.
“In the first three years of legalized gaming, $221,124,306 has already been distributed to local governments and counties from the play of slot machines at facilities that operate in or near their jurisdiction. This is new money coming into these communities to fund a myriad of projects that improve safety and transportation, create or retain jobs, and enhance the quality of life.”
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