Analyst predicts 29% revenue growth for Macau casinos in 2011

The Macau Gaming Inspection and Coordination Bureau recorded revenue of 18.57 billion Patacas (US$2.31 billion) for the month of January 2011. The figure indicates a 33% rise in revenue compared to January 2010.

The Chinese New Year is cited as the reason behind January 2011's revenue being slightly behind that of October and December 2010 when record revenues were reported.

Gabriel Chan, Analyst, Credit Suisse Hong Kong said: "33% growth is quite decent indeed, I am still confident with my full-year 29% growth outlook."

In related news, despite the uncertainty surrounding Macau gambling mogul Stanley Ho's dispute over control of his casino empire, Ho's company SJM Holdings Ltd still holds over thirty percent of the Macau market in revenue terms and remains the largest operator in the market, reports Dow Jones.

Source: InfoPowa News