Macau gaming increases

It used to be that if you wanted to head to the center of gambling you’d go to Las Vegas. But Las Vegas is no longer the gambling powerhouse it once was. Revenue is down, rooms sit empty, and gamers are looking for a new Mecca.

There is a new gaming Mecca on the horizon, and it’s not Atlantic City. While both Las Vegas and Atlantic City have reported losses in recent months, Macau seems to be the industry’s bright spot.

According to reports released this week, hotels and resorts in Macau are reporting big increases. Revenue was up 70% in July of this year compared to July of 2009. In fact, revenue was up 20% between June and July of this year.

These promising numbers are encouraging to casino developers who are moving ahead with expansion and development plans.

Wynn Resorts opened a second casino in Macau in April and reported that revenues climbed more than 70% in the second quarter. The company now is planning a Cotai Strip resort. Las Vegas Sands Corp. is reporting similar successes and is restarting construction on a Cotai Strip resort which has been delayed for nearly two years.

MGM Resorts International is also considering expansion in Macau. The company currently has one property in Macau, the MGM Grand Macau, and is reporting dramatic increases in the second quarter of this year.