Macau casino Melco Crown Entertainment has announced a remarkable financial performance for the fourth quarter of 2011, with net profit rising an eye-watering 560 per cent.The casino, which is partly owned by Australian business mogul James Packer, is the only place where mainland Chinese are allowed to legally gamble in casinos.
Fellow investor Lawrence Ho, meanwhile, observed that there are no outward signs that the rise of Macau will slow anytime soon.
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He said, in fact, that he expects to witness further growth in 2012, telling Reuters: "When it comes to the discretionary spending and consumer sector we really haven't seen any significant slowdown in Macau.
"Our hypothesis for a 15-20 per cent (rise) in gross gaming overall for the market this year is based on an eight per cent GDP growth."
This comes shortly after the Global Betting and Gaming Consultants' Global Gambling (GBGC) Report confirmed that gambling activities generated $419 billion (£264.4 billion) in revenues internationally in 2011.
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