Macau Set to Take Over Vegas as King of Gambling

Filed in archive Casinos on December 2, 2004

Macao's gambling revenues set to overtake Vegas

Former-Portugese colony, Macau, looks set to surpass Vegas in its gambling revenues next year

"Revenues in Macao's 12 casinos were reported by local gaming houses to be $3.6bn last year and are rising quickly, jumping 38 per cent year-on-year in the first quarter, the Macao government says"With the Strip's $4.8bn in 2003 after a good year, its likely Macau will overtake this in 2005

Macau is the only place in China that permits legal gambling and in 2001 it released its gambling monopoly which was controlled by the Stanley Ho Empire, to allow overseas investment.

The opening of Macau to foreign investment brought a string of interest from traditional Vegas Companies to the resort - including MGM-Mirage who plan on opening a resort in 2006, the Las Vegas Sands Group and Wynn Resorts