The Asian gambling capital of the world is as strong as ever thanks to amazing growth number in 2018. This is because Macau Gambling Revenue went up by 14% in 2018 despite an increase in competitors in the market. In addition, Macau also had an excellent month of December showing a 16.6% increase over the previous year.
According to gambling news reports, Macau saw its biggest gambling revenue increase during the month of December. The double-digit increase was the biggest gain seen in the past four months. Overall, Macau gaming revenue rose a whopping 14% leading to 302.85 billion patacas for 2018.
Macau is one of the richest places on earth with a population of 650,000 people. However, in the last few years they have been trying to change the image as a paradise for VIP customers only. Thus, Macau has been advertising itself as a great vacation location for everyone.
Not Just about Gambling Anymore
Even though gambling remains the dominant source of revenue in Macau, they know that diversity is the key to success. Thus, casinos in the former Portuguese colony have been adding more entertainment options for the masses.
Of course, no one expects the economy to change overnight as gambling will remain king in Macau. However, the opening of the new bridge connecting Macau and Hong Kong last October is moving in the right direction. Furthermore, according to casino gambling exerts, the new bridge has made strive in increasing the number of visitors to Macau.
On a more political front, many U.S. Casino operators said the U.S. China trade war was a concern for them. This is because they thought that getting and renewing a gambling license in Macau could get caught up in the trade war. However, their concerns were for naught for 2018 but will be keeping a close watch for 2019.