Gambling in Macau continue to grow at a record rate, as the island gambling mecca saw year on year revenues grow 22.3% in February.
Government gambling figures released this week show that gambling revenues for the month of February were 24.3 billion patacas ($3.04 billion), which beat the projected revenue of 24 billion patacas.
Commenting on Macau's performance, CIMB Securities Analysts Teng Yee Tan said "The momentum is still there. If you look at February, there are only 29 days and no public holidays. The postings are surprisingly good."
While Macau continues to grow, many industry analysts are predicting a slowdown to 11-20% for the year, as opposed to the 42% the former Portuguese colony saw in 2011. One of the main concerns is that rising bad debt may slow growth, as Macau's VIP players often depend on the availability of private credit.