Macau, the former Portuguese colony which is now part of China, saw casino revenues hit a record-breaking $45 billion (£27 billion) last year — more than seven times the amount expected to have crossed the tables at Las Vegas.
The 19% rise in Macau’s takings in 2013 underlines its position as by far the world’s biggest gambling centre. The Chinese government lifted restrictions on foreign ownership of casinos in the city a decade ago, and since then major operators such as Las Vegas Strip — promoted by David Beckham — and Wynn Resorts have flooded in.
There are six major operators in Macau, which is an hour from Hong Kong by high speed ferry, and a total of three dozen casinos. Most of the operators are investing billions more to expand their gambling resorts centred on Cotai Strip, Macau’s answer to the Las Vegas Strip.
Macau’s growth has been fuelled by mainland Chinese flocking to the resort, and this has driven attempts by rival cities such as Singapore to increase their gambling offers.
Analyst Grant Govertsen of Union Gaming Research estimated that Macau’s take in 2013 would be more than seven times the amount earned on the Las Vegas Strip.
