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Macau Set to Overtake Vegas as World's Gambling Mecca
Las Vegas should be on the lookout if it wants to remain the world's gambling mecca.
Macau, the small island just a short ferry ride away from Hong Kong, is catching up with Vegas fast and making waves along the way. This year, gaming revenues from Macau are expected to top $6.8 billion. This figure is just a little over the projected amount that Vegas would bring in.
In recent years, Macau has been successful in transforming itself into a world-class casino gambling destination, undergoing massive casino construction left and right. Major gaming companies have been investing in the tiny island since the Chinese government allowed foreign casinos to set up shop in 1991.
Casino big-names that have built their landmark in Macau include Steve Wynn and The Sands.
"We earned back our investment in this property in 9 or 10 months," attested Stephen Weaver, Vice President of Asian Development for the Sands. "That is a successful investment by anybody's standard."
Sunday, February 04 , 2007
Gerald Kernighan