Casino revenue surges

Macau’s casino gross gaming revenue in June increased 65 percent year-on-year, to MOP13.6 billion, according to data from the Gaming Inspection and Coordination Bureau (DICJ). The total for the six months through June rose 67 percent to MOP85.9 billion. Last month, DICJ’s director, Manuel Joaquim das Neves, said Macau’s gross gaming revenues are likely to increase by 30 percent year-on-year for 2010 overall. However, several analysts and gaming operators disagree with this estimate, saying it is too conservative. Historically, Macau’s government has always downplayed its forecasts on the tax revenue from gaming – the city’s major source of income – due to the potential volatility inherent in such activities.