Those who follow gaming and gambling news already know about the amazing success Macau has had with its casinos and resorts. Macau is the only area in the huge country of China where casino gambling is legal. It has now been reported that Macau may see a doubling of its annual gambling revenues in as little as four years. This assessment came from a report issued by Nomura Equity Research.
Back in 2012, it was reported that Macau gaming revenues had hit $38 billion in US dollars. This was a record level. Even so, Nomura goes on to say that stronger consumer demand will almost certainly push revenues to $70 billion by the time 2017 rolls around. Also contributing to the increase is that officials in Beijing officials are now allowing even more cities to take advantage of the Individual Visa Scheme.
The study used growth rates for Las Vegas markets that took place between 1990 and 2005 for its template. It was able to conclude that a market that is undersupplied in Macau now will allow for very strong growth in the future. Also, Macau has a 3 percent annual limit when it comes to adding new gaming tables. This will help to ensure that a positive trend between supply and demand will continue.
The study went on to sat that Macau now has 57,187 gambling seats. This makes a ratio of one gambling seat for every 1891 people who live in Hong Kong and Guangdong. These areas are where most of those who gamble in Macau come from. In the US, the ratio is one gambling seat for each 227 people. It should be noted that that ratio stated in the report does not include other people living in China. Once those people are able to get into Macau easily, the revenues could be staggering.
Because they are having such huge success now, and see more success in the future, Macau is not too anxious to get into the online gaming market. There may be one exception to this, however. It has been reported that the most recent administrative regulations that govern slot machines has in it a section that is completely devoted to the operating mobile devices inside casinos. This new change is said to only be sensible if there are some types of plans to open sports betting.
In Macau, sports betting is not nearly lucrative as other types of betting. In 2012, it only brought in a little over $50 million. For that same period, sportsbooks in Nevada brought in almost $170 million. It has been reported also that while the general public may not be too interested in sports betting, investors are. As of right now, the contract for any sports betting is being held by Macau Slot. That contract was just renewed for another three years. No action can be taken on sports betting action until at least 2015, and by then the stakes at gaming tables may make it a worthless endeavor in comparison.