Macao Revenues Hit $680 million
By Staff
According to a report by The Macao Daily News, a major local Chinese language newspaper, gaming revenues in Macao's reached $680 million for the first 15 days of the year.

The former Portuguese colony looks set to beat the monthly record set in November of last year when revenues reached $1.2 billion.

According to Fong Ka Chio, Director for The University of Macao’s Institute For The Study Of Commercial Gaming, although the Las Vegas-style casino resort MGM Grand Macao opened in September of last year increasing the number of casinos to 28, the island city's gambling industry development may be affected by the credit crunch in the United States.

He stated that the current sub-prime mortgage crisis could prompt banks to squeeze their credits, which would dry up funds for American gaming companies to further pursue investments in Macao.

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