Like Hong Kong, Macau, the Portuguese autonomous region of China, is one of the few parts of the Socialist Republic to enjoy comparatively liberal laws and lesser restrictions. Its history as a gambling city-port persists to this day, as the city hosts some of the best casinos on this side of the globe. This has led to a steady stream of visiting tourists, both foreigners as well as people from mainland China.
Despite the government’s increasing efforts to slow down the growth of the gambling industry, Macau’s revenues from casinos continue to grow beyond expectations and even outstrip revenues earned at Las Vegas, America’s exotic and exclusive gambling strips, by over five times.
Analyst such as Cameron McKnight, from Wells Fargo, predict that Macau’s stature as the world’s largest casino strip will continue into 2012 as well, and is likely to grow annually at a steady 11 percent. According to Macau’s Gaming Inspection and Coordination Bureau, the gambling revenue for the year 2010 was $US2.2 billion while that in December 2011 was $US3 billion, indicating an clear rise by 25 percent. The overall gambling revenue for the year 2011 reached $US34 billion in 2011, thereby indicating a yearly increase of 42 percent.
Although the Chinese government is pulling in the reins and local governing bodies are stricter with gambling laws, the unique blend of an exotic location combined with professional gambling industry continues to drive Macau’s revenues. With an annual revenue increase predicted at 11 percent, the city-port will continue to be a very important destination for gambling fans and tourists looking for a unique oriental experience.
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