Macau Is Officially the New Gambling Capital of the World

Macau Is Officially the New Gambling Capital of the World

Macau Is Officially the New Gambling Capital of the World

📅22 January 2014, 15:46

In a Macau report detailing the city’s gambling revenue, a whopping $45 billion was earned in 2013 alone. That’s nearly seven times more than the $16 billion brought in by Las Vegas gaming industries in 2012.

This year’s report highlighted a growth of 18.6% over the Macau’s 2012 gambling revenue. The report overshadowed even the most generous of analyst’s estimates. Many expect 2014 will be an even more fruitful year for the city built on gaming.

The one-time Portuguese territory was motionless until the government disbanded a gambling monopoly a decade ago. Now, foreign casino corporations are flocking to the cash cow they see in Macau.
Six casino operators are currently active in Macau, including Wynn and Las Vegas Sands corporations, investing billions into mega-projects to help expand the already lucrative industry. Other Chinese territories are eyeing the achievements Macau has enjoyed and are seeking to emulate the city’s success.

The casino industry’s triumph in Macau is due largely to wealthy mainlanders on holiday at the many gaming destinations found just an hour away from Hong Kong by ferry.
Macau has already overtaken the entire US casino industry, which pulled in about $37 billion last year. In short, a trip to Macau is on everyone’s wish list, whether player, vacationer, or investor.