In May, Macau gambling revenue topped $3 billion for first time

Jun 1, 2011 11:50 AM

May gambling revenue on the Chinese island of Macau topped $3 billion for the first time. Chinese authorities released figures today that show Macau’s gambling revenue jumped 42 percent compared with May 2010 and 19 percent from April.

Higher gambling revenue in Macau in May can be attributed in part to the Galaxy Entertainment Group’s newly opened Galaxy Macau casino resort, analysts said.

The figures did not highlight the revenue statistics for specific Macau casinos, the monthly revenue figure of $3.04 billion is the fifth monthly record in the past six months.

Macau overtook the Las Vegas Strip as the world’s biggest gambling market in 2006 and last year raked in about four times the Strip’s gambling revenue. Analysts expect Macau’s gambling revenue to grow to five times the size of the Strip’s this year.