Meanwhile, back in the U.S., Atlantic City looks on with envy as it desperately tries its next great hope to lift revenues and inbound tourism.
Sands China Ltd., the Macau casino operator controlled by billionaire Sheldon Adelson, said it expects 2013 gaming revenue for the Chinese territory to exceed last year, helped by more hotel rooms and rail services.
Macau’s casino revenue growth rate should be in the “mid- teens” this year and higher than 2012, Chief Executive Officer Edward Tracy said in an interview in the city today.
Gambling revenue in Macau jumped 25 percent to a record 31.3 billion patacas ($3.9 billion) in March, as casino operators expanded and added more hotel rooms to draw gamblers from China. Gaming revenue in the former Portuguese colony slowed to 14 percent last year from 42 percent in 2011, as the local government limited casino table additions in the only place in China where they’re legal.
Sands China rose 0.5 percent to HK$39.65 at the close of Hong Kong trading. The stock has climbed 17 percent this year, outpacing the benchmark Hang Seng Index’s 2.5 percent decline.
The Macau Government Tourist Office expects about 28 million visitors this year, about the same as last year, said Helena Fernandes, director of the office. China’s avian flu outbreak hasn’t had a severe impact on tourism, she said.
Editor: Chua Kong Ho. To contact the reporter on this story: Vinicy Chan in Hong Kong at email@example.com. To contact the editor responsible for this story: Anjali Cordeiro at firstname.lastname@example.org.
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Photo Credit: Las Vegas Sands Chairman and CEO Adelson attends the opening ceremony of Sands Cotai Central, Sands' newest integrated resort in Macau. Tyrone Siu / Reuters
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