Published on January 2, 2014 by Terry Goodwin
The city of Macau has had a snappy rise to fame inside the casino gambling industry over the last decade. What used to be a monopoly held by casino tycoon Stanley Ho, has changed into the biggest gaming market within the world.
The revenue figures was released for 2013, and what used to be a small gap between Macau casinos and the following largest worldwide market, Las Vegas, has grown to never before seen gaps. Macau casinos brought in $45 billion, a figure even gaming companies could only have dreamed about five years ago.
Macau has not just surpassed Las vegas in relation to overall gaming revenue, but for the primary time in history, the town outpaced all the US casino market. The approximately 12,000 casinos within the US brought in $37.3 billion in 2013. The united states figures don't count tribal casinos which can be operated on reservations and never regulated by individual states.
It was just a few short years ago when Macau was facing a stiff challenge from the Chinese government. The federal government placed a restriction on visas coming from the mainland. That left some of the largest gamblers on the earth stuck clear of Macau. The visa restriction, however, has since been lifted and Macau has thrived since.
Record revenue figures has been seen for several years, and in 2013, the $45 billion was essentially the most seen in a single market in any given year. Analysts expect that figure to grow even higher in 2014, as among the biggest gaming operators within the area are renovating or expanding with new properties.
Sheldon Adelson, CEO of Las Vegas Sands, was the primary to take a possibility on Macau in the course of the economic recession of 2008. Within the years since, MGM Mirage and Wynn Resorts have joined several other US companies in entering the Macau market. All companies have thrived in what has become the model for other Asian gaming territories comparable to Malaysia and Singapore.
Read More... [Source: Casino Gambling News]
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