Macau Casino Profits Dip

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Created on Tuesday, 06 May 2008 14:35

Stanley Ho´s range of casinos run under the umbrella of the Sociedade de Jogos de Macau (SJM), recorded the highest profit among gambling companies operating in the former Portuguese territory of Macau, China with total profit of 1.845 billion patacas.

SJM, whose 2007 profit was 20 % down on 2006, enjoyed net revenue of 20.239 billion patacas after paying 12.872 billion patacas in taxes to the Chinese government.

The Venetian, which in Macau owns the world's largest casino, saw profit in 2007 dip almost 50% against 2006 (from 2.972 billion patacas to 1.579 billion patacas).

Wynn Resorts in 2007 made a profit of 1.486 billion patacas, with net operating income of 11.184 billion patacas.
Macau has 29 casino licenses at the moment – but only 28 casinos are running. Total gaming revenues now far oustrip those of Las Vegas.