* Macau revenue in line with analyst forecasts of 24.9 bln
* Lower tier/mass market gamblers continue to bolster growth
* Macau industry facing tighter regulation and scrutiny
HONG KONG, Dec 3 Gambling revenue in Macau, the
world's largest casino market, rose 7.9 percent in November
year-on-year, boosted by strong spending from China's emerging
middle class who have continued to flock across the border into
the southern Chinese enclave.
November's revenue was at 24.88 billion patacas ($3.12
billion), data from Macau's Gaming Inspection and Coordination
bureau showed on Monday. The figure was in line with analyst
estimates predicting a 7-8 percent growth rate.
Macau is the only place in China where people can legally
gamble at casinos. While growth rates have dropped from
double-digit highs in the past seven months due to lower
spending by big VIP gamblers, overall revenue has remained
Annual revenue is expected to reach $38 billion, more than
six times that of Las Vegas.
Around one third the size of Manhattan, Macau's casino
dependant hub remains one of the world's fastest growing
economies. A modest slowdown in key market China, however, has
led to a drop in visitor levels.
China's change of leadership in November has highlighted the
country's focus on battling corruption. Tighter scrutiny and
regulation of money flows going into Macau and Hong Kong have
been stepped up in recent months, industry players say.
Despite increased regulation and scrutiny, overall gaming
revenues are not expected to drop.
Analysts are focusing on improving data from China to
bolster revenues going forward. Improving transport links are
also expected to bring in visitors once new rail extensions are
complete, starting early next year.
A survey of private factory managers on Monday showed the
country's vast manufacturing sector quickened for the first time
in 13 months in November, adding to evidence that the economy is
reviving after seven quarters of slowing growth.