Leaving Las Vegas, for Macau

IIPM BUSINESS & ECONOMY
Talking of gambling, Las Vegas, the world’s biggest casino market, is in danger of losing it all in a great gamble! The southern Chinese territory of former Portuguese enclave Macau is all set to outstrip Vegas as the biggest gaming den this year, and the market buzz is that Macau’s gaming halls will generate $ 8 billion by 2007. More than $ 20 billion has been pumped into the region with the aim of building 25 new hotels and casinos in the next five years, and it is going to be THE next gaming destination. Macau’s casino gaming revenue in 2007 will be driven by substantial growth in noncasino amenities such as new convention centre venues and innovative entertainment options incorporated into Macau’s fresh Las Vegas style integrated resorts. Macau’s century-old casino sector was revived in 2001, when the Chinese-backed government of the territory wrested a 40-year operations monopoly from Stanley Ho.

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Source :- IIPM Editorial, 2006, Arindam Chaudhari's Initiative

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