Revenues up at Macau casinos as recovery signs appear
Anyone that thought that Las Vegas and Atlantic City were the only two casino destinations that were struggling because of the economy, should check out Macau. The new gambling capital of the world has been hit just as hard as any place in the US.
After months of struggling through the rough economy, Macau has posted a revenue increase for the first three months of 2009. Although the revenue increased over previous quarters, the us$ 3.2 billion that was generated was still down almost 13% from the same quarter the year before. Macau is expecting the upward trend to continue, however.
"With Las Vegas Sands re-committing to finishing projects in Macau, the outlook for the future of Macau casino gambling looks bright," said observer Thomas Dawley, "certainly the first quarter numbers indicate that the economic crisis at least as far as casinos goes, might be coming to an end."
In addition to the Sands project, there is also other good news coming for the casino industry. Talks have begun between government officials from Hong Kong and Guangdong, Macau, about easing visa restrictions to Macau.
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