| | |  | Last Updated: Tuesday, June 19, 2007 |  | | | Macau Becoming Second Gambling Capital of the World
- Thursday, 18 May 2006
The gambling capital of the world is currently Las Vegas, but will Las Vegas remain the gambling capital for long? The gambling contests are held in the United States and Europe, and the biggest online casinos are featuring American themes Las Vegas' place in the gambling world is well established, but a new star is rising. Macau is becoming a serious rival, with over 25 high-class resorts and casinos scheduled to open before 2009.
Recently, Macau has grown from roughly 9 million arrivals in the year 2000, to 19 million in 2005, with over half of the arrivals coming from mainland China. This amazing growth has been driven by gambling and tourism. In 2004, Macau really stepped on the scene by overtaking Las Vegas in its individual casinos' gambling revenue (roughly US$5 billion per casino). To put things in just a regional perspective, Macau is the only city in the Greater China Region where casinos are legal. With a Chinese population of 1.3 billion people, Macau has a tremendous opportunity.
The new gambling resorts include the Wynn Macau Casino in 2006, the Venetian Macau in 2007, the Grand Lisboa, and many more. Macau has caught the attention of Las Vegas investors who are pouring billions into the region. From MGM Mirage to Steve Wynn, everyone is jumping on board. Also let's not forget the number 84 richest man in the world, Stanley Ho, who pioneered Macau as a gambling center and owns 90% of Macau's casinos. | |
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