Macau the new Gambling Capitol of the World

Published on: December 29, 2007 

As the incredible tourist home in the People Republic of China, Macau, becomes a true rival for the gaming community to the Las Vegas capital of gaming, they reach record levels. On average the United States gambling capital reaches more than 8 billion dollars annually. That is an estimate based solely on gambling profits, not revenue drawn in from the resort type decadence of the hotel casino’s amenities beyond of the tables. This year that average will be surpassed by the gambling Mecca of the East – which is being projected to cross the 10 billion USD mark by the 31st.

The location being only an hour from Hong Kong by ferry makes it a convenient market for the Asian population, which is proving to be advantageous to the small gambling island. Adding to this, there are a number of new Las Vegas style casinos, such as the MGM Grand Macao, which opened on the 18th of this month. In the first 2 days of operation, the resort casino generated more than 6.6 million USD. This is a landmark fall in for any brick and mortar casino. This is just one example of the impact the tiny island of Macau is having on the gambling and casino industry. They are the only location in the People Republic of China in which live gambling is permitted, with out hesitation. Any live gambling that takes place on the main land of China is considered illegal is those involved are prosecuted for their participation.

Macau now has 27 live land based casinos and 1 floating casino which is currently closed for renovation. Between all 28 constructed casinos and resort casino hotels, the taxes received in the first 11 months of the year, surpassed the entire amount of taxes generated for the whole of 2006 by 34.9 percent. The Peoples Republic of China is benefiting from the regulated casino gambling revenue with more than 71 percent of the governments entire revenue during the same time frame stemming in from the gaming taxes at the casinos.

At the pace Macau is generating interest, tourism and gambling interest, the island will soon be considered the gambling capitol of the world, surpassing the incredible streak the Las Vegas Strip has held for the last 40 years. Although Las Vegas is a house hold name world wide, Macau will continue to follow through history, establishing themselves as such in the near future.

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