Lunar new year boosts Macau growth

Analyst’s “lower than expected” January 2013 growth rates in the former Portuguese enclave of Macau were boosted in the month of February by the Lunar New Year festive period.

Over one million cash-rich visitors descended on the Asian gambling Mecca for the week-long holiday resulting in the Macau Gaming and Inspection Bureau reporting revenues of 27.1 billion Patacas, an increase of 11.5 percent.

According to Reuters, analysts expect March revenues to be affected by the change in China’s national leadership and High Rollers holding back because of tighter scrutiny of money transfers from Chinese authorities.

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