Macau holiday weekend sees huge earnings for casinos
By abigail
Macauís casino has enjoyed a fantastic weekend of earnings, boosted largely by a national holiday. The National Day holiday began on the 1st of October, with the gross revenue taken in the three days from that date hitting 500 million patacas, or US$62 million. It is another strong development for the flourishing gambling industry of the province.

So far in the first nine months of this year, the total gross revenue for the gambling industry has exceeded the totals achieved throughout the whole of 2003. The taxes earned by the government from the industry have also been surpassed. Last year the earnings from gaming taxes that went to the government came to 10.17 billion patacas, or US$1.27 billion. The current forecast of the total for 2004 contributed in taxes is 13 billion patacas, or US$1.6 billion.

Reports have also been published detailing the proportions of market share taken by the three available casino venues in the Chinese province. Macau Gaming Co Ltd, owned by Stanley Ho earned 67 percent of revenue generated in September. His was followed by 19.5 percent won by the Hong Kong investment the Galaxy Waldo, which opened in July, and then by the 13.5 percent share gained by the Las Vegas Sands Macau, the regionís first American owned casino which opened in May.

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