Macau gambling stats keep rising
More and more Chinese high rolling gamblers continue to visit the Portuguese enclave of Macau. Macau gambling stats keep rising as the success just rolls on.
Month on month, Macau saw an 18% massive increase gambling revenue as the Chinese high rollers continue to return. Data released on Saturday showed an increase of 2.6 billion dollars. Analysts were expecting a more modest increase of between 12 and 16 per cent.
Gambling revenues during first four months of 2017 have surged ahead despite the earlier slump due to Chinese spending controls. The supply of high rollers had all but dried up by 2014 when President Xi Jinpigns campaign against public officials showing wealth took hold.
Yet, there is a certain fragility to the economy of Macau which rests on the gambling. Without the success of gambling the economy could possibly collapse.
Macau depends heavily on the Chinese VIP gambling market. The government of Macau has been trying to diversify its economy but is it fighting a loosing battle as a victim of its own success. Hopefully the success will continue as new casinos and gambling resorts come on-stream.
Since the conception of Macau, billions of dollars have been invested in gambling, allowing the Government to flourish. From 2006 there was an employment boom and Macau was able to respond by inviting immigrants. Ten of thousand apartments were constructed in Macau to house the new immigrant workers. 95% of immigrants to Macau are from China.
Read more about the gambling history of Macau.