Macau Casinos Up 59%

The former Portuguese colony of Macau (now a Special Administrative Region of the People’s Republic of China) has bucked the credit crunch to announce a rise in gambling revenues from it’s casinos. The numbers are impressive to say the least, up 59% on last year.

With such a positive upturn in fortunes for Macau’s casino industry despite the expected negative effects of the global economic crisis, it looks as though many more of Vegas’ blue chip casino companies will be looking to launch new ventures in the area over the coming year to cash in on the Asian casino boom.

Share prices for Sands China, the Macau outpost of the Las Vegas Sands, meanwhile rose 5 percent to HK$10.02 on the news, indicating a promising future for the latest addition to the enclave’s casino network.