HONG KONG May 2 Macau, the world's biggest
gambling destination, posted
an 21.9 percent rise in April gambling revenue to 25 billion
patacas ($3.13 billion), government data showed on Wednesday,
after the opening of a new $4 billion casino drew strong demand
from large-pocketed Chinese visitors.
A tiny enclave off China's southern coast, Macau's booming
casino town has been a goldmine for for U.S. casino giants such
as Las Vegas Sands who have reaped stellar profits from
their Macau subsidiaries.
Mainland visitors, who can access the hub via an hour ferry
ride from Hong Kong or through nearby Chinese city Zhuhai,
contribute the bulk of revenues in Macau as it is the only place
where they can legally casino gamble.
Sands China, gambling billionaire Sheldon
Adelson's $4 billion company, opened its new casino opposite its
trademark Venetian property on April 11.
With economic growth in China cooling from previously
red-hot growth and small to mid sized factories struggling, some
Macau analysts remain cautious that a slowdown in the mainland
coupled with a rise in bad loans could impact gambling revenues.