Big bang

Macau set a new monthly casino gross gaming revenue record in December, according to official data released early this month. With total revenue of MOP18.88 billion (US$2.36 billion), last month’s casino take beat the previous record of MOP18.87 billion set in October, by a small margin. December’s record also represented a 66.4 percent year-on-year increase. And, meeting expectations, last year saw a record established for annual revenue. The 12 months ended with a gross revenue of MOP188.34 billion, a 57.8 percent increase over 2009, which was also the previous record. Four-year spiralThe upwards trend is likely to continue for the next four years, according to new research by PricewaterhouseCoopers. The company estimates casino gross gaming revenue in Macau will top US$45.1 billion in 2014. That is almost double the overall figure from last year. According to the firm’s latest report, casino gross gaming revenue in Macau will increase at a compound annual growth rate (CAGR) of 24.7 percent until 2014. This year, the company has forecast gross revenue of US$28.3 billion. Next year’s amount should increase to US$34.2 billion, reaching US$39.9 billion by 2013. SJM chief executive officer Ambrose So Shu Fai also expects gross gaming revenue to continue to grow this year. He estimates a growth rate of between 15 and 20 percent for the full year. The PricewaterhouseCoopers report is also predicting a good 2011 for Singapore, saying it will become the Asia-Pacific region’s second biggest casino gaming market, overtaking Australia and South Korea. Steady startExclusive information compiled by Macau Business indicated that there were no major shifts in the gaming operator’s market share last month, although Sands China increased its performance by around two percentage points. Stanley Ho Hung Sun’s Sociedade de Jogos de Macau (SJM) continues to lead the ranking, with a December market share of 30 percent, followed by Wynn Macau with 17 percent, and Sands China, with about 16.7 percent. Melco Crown Entertainment was fourth, with a market share of about 14.5 percent. MGM Macau was next with 11.7 percent and Galaxy Entertainment Group rounds out the list with a 10-percentage-point market share. Charts and graphics in our paper edition and MB online browseable