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 Casino gambling in Macau is enjoying some growth. Revenue from the industry reached an all-time high in January and it looks like they may be on the verge of beating that record again. Just three weeks into the month revenue had already equaled all of February's and if the fourth week is anything like the first three it seems certain that the industry will top January's numbers.
Macau's gambling totals in January came up to $1.8 billion that's a 63% rise from the year prior. As of the end of the third week of March revenue was already set at $1.68 billion with eight days of gaming left to go. Even if for some reason Macau didn't see their previous record defeated they are still looking at an extremely profitable month and should be more then pleased with their profit margin.
Sands China was second only to SJM Holdings in market share. The growth in Macau and bright prospects of the future have led Las Vegas Sands stock to rise dramatically from $10 a share at the start of the year all the way up to $22 today.
The potential for growth in Macau has also led to MGM Mirage's decision to sell its shares in Atlantic City's Borgata Casino this week. MGM executives feel that their partnership with Pansy Ho in Macau is far more important in the long run then owning the top casino in New Jersey.
Both Sands and MGM were hard pressed to make it through the recent recession when debt payments came due right when their incomes were in free fall. Luckily for them though they were well-invested in the Far East where prospects have bounced back faster and farther then those in the U.S.
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