by GT Staff |
The Chinese New Year’s celebration of the Year of the Tiger takes place next week, but in Macau they might be celebrating the Year of the Cash Cow.
According to published reports, gambling revenue in Macau totaled 14 billion patacas ($1.72 billion) in January, a 65 percent increase from a year earlier.
January’s revenue exceeded the previous high of 12.6 million patacas generated in October 2009.
Following the announcement Tuesday, Macau casino stocks moved higher in Hong Kong trading.
At midday in Hong Kong, shares of Stanley Ho’s SJM were up 4.7%, Sands China added 3.3% and Wynn Macau Ltd. (HK:1128 9.73, +0.11, +1.14%) (WYNMF 1.24, -0.06, -4.62%) rose 1.3%
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