Melco Resorts & Entertainment (NASDAQ:MLCO)
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Gambling revenue in Macau rose 57% in August from a year earlier, government statistics showed Thursday, as high rollers from mainland China continued to fuel growth regardless of China's tightening measures.
Macau, the only place in China where casino gambling is legal, has seen gambling revenue soar since the end of 2009 as players continue to place bets despite Beijing's moves to tighten credit and local government policies aimed at slowing growth to a more sober pace.
Gambling revenue in the Chinese territory rose to MOP24.77 billion (US$3.09 billion) last month, up from MOP15.77 billion a year earlier, according to data from Macau's Gaming Inspection and Coordination Bureau.
Macau overtook the Las Vegas Strip as the world's biggest gambling market in 2006 and is poised to rake in five times the Strip's gambling revenue this year.
In the January-August period, Macau's gambling revenue rose 47% from a year earlier, adding to a 58% surge in 2010.
-By Kate O'Keeffe, Dow Jones Newswires; 852-2802-7002; firstname.lastname@example.org