Macau’s casinos made £3.68 BILLION before tax in the first six months of 2008, it was announced yesterday.

That compares to £5.2 billion over the WHOLE of 2007 — or about 70 per cent.

Despite that, industry insiders are warning of tighter times ahead for the island province’s casinos because the last three months were DOWN by more than 2 per cent on the first three months.

Shares Flop
Biggest winner was VIP baccarat which was responsible for almost 70 per cent of all gambling revenues.

Macau — a former Portuguese colony now an autonomous city state within China — is the only place in China where gambling is legal.

Earlier this month, the stock market sell-off of 19 of Macau’s 30 casinos flopped as investors shied away, worried by falling profits, the credit crunch and a legal wrangle between their owner Stanley Ho and his sister Winnie over control.