Macau January Gambling Revenue Up 7.3%, Missing Forecasts
02/01/2013| 01:25am US/Eastern
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By Kate O'Keeffe
HONG KONG--Macau's January gambling revenue rose 7.3% from the same month a year earlier, falling short of a pack of analyst forecasts tipping double-digit growth in the Chinese territory.
Gambling revenue rose to 26.86 billion patacas ($3.36 billion) last month, according to data from Macau's Gaming Inspection and Coordination Bureau released Friday. The figure follows an all-time high set in December 2012 during which revenue ballooned to MOP28.25 billion.
Analysts had said they anticipated a lull in play ahead of the key Lunar New Year holiday, which falls in February this year but fell in January last year. Even so they had forecast growth as high as 12% for January.
Macau, the only place in China where casino gambling is legal, is the world's largest gambling center. It earns about six times the gambling revenue of the Las Vegas Strip. Last year, Macau's gambling revenue rose 14% from 2011.
Write to Kate O'Keeffe at kate.okeeffe@wsj.com
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