Macau Has Record Setting December

Internet gambling mecca Macau has had a record setting month of December, bringing in an all time high of 28.25 billion patacas, which is up 19.6% over the same period last year.

For the year, gambling revenues rose 13.5%, which was down from the 42.2% growth the island saw in 2011.

All is not rosy for Macau though, as in 2013 an anti-smoking bill comes into effect and middle class growth in China has taken a bite into the VIP market.

A Reuters report on the matter notes: "Higher spending by China's burgeoning middle class has been a key factor in propelling revenue gains in 2012, offsetting a slowdown in VIP growth. Whether volumes in the high end VIP market will stabilize and accelerate further on the back of stronger economic growth is an issue over which analysts remain cautious."

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