Macau smashes another record in October
Analysts had forecast October growth in the world’s biggest gambling market to be up 27-30 percent. China’s Golden Week national holiday over the first week of October saw a 10.7 percent increase in visitors from mainland China compared with a year earlier. Visitor arrivals totaled 7.76 million for the third quarter of 2013.
The lack of hotel rooms in Macau is a key constraint in terms of pushing revenue growth higher, casino executives say. While eight resorts are in the works along with additional hotels, new capacity is unlikely to open up before the end of 2014.Infrastructure developments in the coming years are expected to help lift the number of visitors to Macau, and a bridge joining Hong Kong, Zhuhai and Macau is set to open by 2016, while expanded intercity rail links will shorten the time of travel from China’s northern cities to the gambling centre.
Plans are also in place to upgrade Macau’s capacity-constrained ferry terminals and international airport.
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