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Macau is the New Vegas

By Chuckmonster on Sunday, 10th July 2005 9:01pm
  » filed under Las Vegas  comments: 0

   

This small Asian enclave is on the verge of supplanting mighty Las Vegas as the top gambling market in the world.

The entire Macau peninsula, two islands and a reclaimed river delta, covers about 16.9 square miles compared with Las Vegas' 84.3 square miles. But pound for pound, gamblers in Macau are far more aggressive than those visiting Southern Nevada.

When Macau was turned over to the Chinese government in 1999 -- the same year Hong Kong made a similar but more newsworthy transition -- one of the first moves by the new administration was to open the gaming market to competitors, ending a 40-year monopoly.

The resulting injection of competition has made the market explode, with analysts expecting gaming revenue to surpass Las Vegas levels this year or next.

The Macau government reported gaming revenue of $5 billion in 2004, about $3.5 billion ahead of 2003's total and slightly ahead of the $4.9 billion generated last year on the Las Vegas Strip.



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