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Thursday, April 24th, 2008

Macau Lights Up With Great Numbers

Macau gaming revenue up 62% in Q1. Gross gaming revenue rose by 62 percent in the first three months of the year compared to the same period in 2007 and reached 30.085 billion patacas (3.760 billion dollars), indicate official data released Thursday.

The Gaming Inspection and Coordination Bureau affirmed that between January and March 2008 casino gaming recorded gross revenue of 29.823 billion patacas, while betting on horseracing, dogs, football, basketball and lotteries accounted for gross revenue of 262 million patacas.

Gross gaming revenue during the first three months of this year is almost equal to the revenue obtained in the entire year of 2003, when the figure was 30.315 billion patacas.

The strong growth in the gaming sector's gross revenue continues to be sustained by the intake from VIP baccarat (meant for major players), which contributed 20.801 billion patacas or 69.14 percent of total gross revenue.

At the end of the first quarter Macau's 29 casinos counted 4,311 tables and 13,522 slot machines in operation.

Stanley Ho's Sociedade de Jogos de Macau (SJM) continued to lead the market at the end of the first quarter with 30 percent of the revenues, followed by Las Vegas Sands, which owns the Venetian, Melco/PBL, Wynn Resorts, Galaxy and MGM.

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