Gambling at the offshore island of Macau in china has maintained its recent trend of generating impressive profits in the month on November 2010 as well. This is in accordance with the recent statistics provided by Macau’s Gaming and Inspection Coordination Bureau.
The Reuters News Agency reported that an overall revenue of 17.354 billion Patacas (approx 2.2 billion dollars) was recorded which is also a whooping increase of 42% as compared to the net returns in November 2009. Eventually, they managed to make November 2010 the consecutive strongest month after October 2010.
Market analysts are of the notion that the numbers benefited Las Vegas Sands Corp that runs the Sands Macau, Wynn Resorts Ltd, Venetian Macau which owns Encore and Wynn Macau.
Jefferies & Co. gaming analyst David Katz told investors that “We believe that these results are above our hope and verify our faith that Macau gaming revenues will carry on to be strong all the way through 2010 from a year-over-year growth perspective, regardless of the modest cooling of the Chinese economy”.
