Electricity shortage threatens Macau gambling industryJuly 26, 2007, 1:33 am (8 years ago)
Macau’s gambling industry is growing so fast it has placed a serious burden on the city’s electricity grid.
It has been reported that the city’s infrastructure is struggling to cope with the glitz and glamour of the may new casinos that have sprung up there in recent times.
The first five months of the year saw a 17.6 percent hike in electricity consumption and Macau is now relying on Southern China for half its electricity. And the construction of an extra supply cable between Macau and China began last month. This should increase power supplies there by 60 percent and alleviate the current problems in the short term at least.
The increased pressure on power supplies has resulted in several power cuts in recent months.
While the booming industry may be enduring some teething problems, on the whole the gambling industry is providing a major boost to the economy.
The former Portuguese enclave has experienced massive boom in gaming revenues with a hike of 46.1 percent year-on-year for the first half of 2007.
Chinese news agency Xinhua said casino business accounted for 98 percent of all gaming receipts in Macau from January to June.
In Macao, which is home to casino tycoon Stanley Ho, authorities revealed that receipts from casino games, lotteries, horseracing and greyhound racing came to 37.97 billion patacas ($4.75bn US).
The above figures, which were provided by the government-run Gaming Inspection and Coordination Bureau, indicate much stronger performance by the Macao gambling industry than expected and indicate a bright future for gaming there.
The construction of new casinos has flourished there since Ho lost his monopoly on gaming in the city in 2001.
Comments (0) Back to Top