Macau: Casino capital of the East and perhaps the world

Macau is on its way to become the new gambling headquarters of the world, nabbing the title from current holder Las Vegas. Already this year, Macau is expected to exceed Vegas in gambling revenue, which has helped the Chinese-ruled nation boast an economic growth rate of 25 percent, with private investment shooting through the roof at 47 percent. With only half the visitors as Las Vegas, Macau managed to shoot up to $5.1 billion in gambling revenue last year. Compared to Las Vegas' $5.3 billion, this year's predicted performance is not such a long shot. Macau's gambling boon is expected to grow for years to come. According to one estimation, within three years, Macau's 16 casinos and 894 gaming tables will grow to at least 30 casinos and 3500 tables. Additionally, the increased demand for property, resulting in part from the casino invasion, has helped raise property prices by 50 percent.

Source: Online Casinos News Staff

Tuesday, 29 March 2005