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Hong Kong (AFP) Nov 2, 2010 Macau has set a new monthly record for gaming revenue, raking in 2.36 billion US dollars in October, according to official data, cementing its position as the world's biggest gaming hub. The latest figures are a 50 percent year-on-year increase as the southern Chinese territory saw a surge of visitors during the National Day holiday period in at the start of the month. Macau's October gaming revenue was 18.87 billion patacas (2.36 billion US dollars), compared with 12.6 billion patacas in the same month last year, according to figures from the city's Gaming Inspection and Coordination Bureau. Macau has seen a sharp increase in revenue since mid-2009 and it continues to smash monthly records, shrugging off a downturn during the global financial crisis. The city's gaming operators, including Las Vegas Sands' Macau unit and Galaxy Entertainment Group, posted strong third-quarter financial results last week on the back of surging revenue. Macau, which was handed back to China in 1999, is the only Chinese city where casino gambling is allowed. It has overtaken Las Vegas in terms of gaming revenue after the sector was opened to foreign competition in 2002. -- Dow Jones Newswires contributed to this report --
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