Macau's gaming market will continue to grow at a rapid pace over the next few years, fuelled by rising disposable income in China and new property developments.
PricewaterhouseCoopers predicts growth of around 27 per cent in 2011 as the Chinese enclave further consolidates its position as the world’s largest gaming market. PwC partner Ivan Ng said casino gaming spending is "undoubtedly" shifting towards the Asia-Pacific region.
"The shift can be attributed to three main factors," he told InterGaming, "rising disposable income in Asia, especially China, a deep cultural attachment to casino gaming and the growing opportunities to participate as new centres and gaming facilities are opened up.
"Macau’s proximity to China and the rest of Asia ensured it would become the centre of gaming worldwide. As China continues to prosper and disposable incomes rise, Macau gaming is very much a supply-driven market. The growth in the years to 2014 will be greatly fuelled by the opening of new properties in Cotai and the Macau peninsula.
"After the liberalisation of the gaming market, we have seen double-digit growth in almost all the years since 2005. Remarkable growth was noted in 2007 and 2008, which could attributed to the opening of the mega properties in the Cotai Strip. We expect by 2014 Macau’s gaming market will be three times the size of Nevada’s as operators continue to invest in the development of their properties and entertainment attractions."