Macau's bets are paying off for US firms.

Gaming corporations in the United States are benefiting from the rapid expansion of gambling in China's Macau region. Lands end

Sands China Ltd., a subsidiary of Las Vegas Sands, announced this week that net profit increased 63.3 percent year over year to $452.9 million, owing in part to the launch of the Sands Cotai Central last year.

MGM China, MGM Resorts International's Macau subsidiary, reported a 6% increase in net revenue over the same period last year. The boost was linked to an increase in revenue from table games and slots, as well as a 15% rise in income from VIP table games, according to MGM.

According to Aaron Fischer of CLSA, a Hong Kong consultancy, Macau gaming revenues were up 14% in the third quarter compared to the previous year.

Mr Fischer said that hotel occupancy rates in Macau are about 95%, and that the typical minimum bet on gaming tables has climbed from HK$300 to HK$600 in the last year.

According to the Macau Gaming Inspection and Coordination Bureau, Macau produced a record $3.92 billion in gambling revenue in March, up 25.4 percent over the same month a year ago.

In a statement, Sheldon Adelson, chairman of Las Vegas Sands, stated, "In Macau, we generated record financial results, with great growth and strong operating momentum reflected in every aspect of our business."

The group's resorts on the Cotai Strip, according to Mr. Adelson, attracted 14 million guests in the quarter. He also stated that the Parisian Macau, which is scheduled to incorporate a facsimile of the Eiffel Tower, could open earlier than projected in late 2015.

MGM Resorts International agreed to build a 1,600-room hotel with 500 gambling tables on a 17.8-acre site in Cotai last October.

 

Home prices in Hong Kong are expected to fall.

According to economists, home prices in Hong Kong could decline by as much as 25% in the next two years as a result of new government rules and rising mortgage interest rates.

The most dismal prognosis came from Sanford C. Bernstein, who predicted a 25% drop in values because new apartment sales will "remain generally muted" in the coming months.

Many industry observers feel the Hong Kong boom may be coming to an end, as previously reported. New government measures, including a 15% tax on purchases by foreign buyers, are anticipated to put an end to one of the region's most rapid increases in property values. Hong Kong prices have more than doubled in recent years, despite the global economic crisis.

However, not all analysts agree on the magnitude of the declines. Home prices will only decline 5 to 10% this year, according to UBS Investment Research.

"We don't think home prices will fall as much as some have projected because the supply problem hasn't been rectified," said Eva Lee of UBS' Hong Kong and China property research.

According to Deutsche Bank, housing values could decline by as much as 20% in the next two years, while Macquarie predicts a 10% decrease this year.

However, there are a variety of viewpoints on the market's future. Puru Saxena, a Hong Kong money manager, reportedly stated that in prior boom-bust cycles, Hong Kong prices had decreased by 50 to 60%. The present bubble in Hong Kong is "much bigger than the one we saw in the United States," according to experts.