Macau gambling operations have surpassed that of Las Vegas and the strong reception of casinos in the Chinese territory continues to turn profits for casino operators.
This week Las Vegas Sands, Macau subsidiary reported that the Macau operations listed on the Hong Kong stock exchange produced quadruple profits in the first half of the year.
Despite challenges facing Sands China’s expansion on the Cotai Strip, casino officials said that for the six month period ending June 30, 2010 its Macau casinos have brought in $250.5 million in net profits compared to $58.3 million last year.
Sands said that revenue was also up 32% to $1.98 billion compared to $1.50 billion in the same period of 2009.
Sands reported yesterday that foreign labor restrictions are presenting an issue for the completion of its Cotai Strip expansion that will add the world’s largest casino and three additional hotels to Sands Macau assets.
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