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Macao has a turnover of 4 times that of Las Vegas in 2010

31 Jan All, General | Comments Off

The peninsula of Macau in China is the territory of China where gambling is allowed. The sector is also very dynamic since 2010, the entire casino industry in Macao has generated a turnover of 23.5 billion dollars in 2010, significantly higher than Las Vegas in the United States.

Since the liberalization of gambling in 2002, the city enjoys a boom, where large sums are invested and played in the city of Macao. It has become paradise for Chinese gambling.

It was in 2007 that Macau has surpassed Las Vegas in terms of turnover in 2010 reached 23.5 billion dollars, or 57.8% increase in 2009. This represents 4 times the annual turnover of Las Vegas, which makes 6 billion per year.

Macao Peninsula enjoys an industry specific legislation for gaming. The casinos are like nowhere authorized in other Chinese territories.

Given the economic importance of China, more and more Chinese tourists belonging to the middle class are on vacation or a weekend to indulge their passion for the game

Macao is now a victim of its success because his business is primarily focused on the casinos, and therefore very dependent on the number of players who come on the peninsula.

There are about 5,000 gaming tables spread over 30 km2, and the Chinese government in Beijing is pushing for that Macau is diversifying its activities. Including limiting the number of casinos to be built and the number of work visas.

Macao was a port of trade with the Portuguese from 1535, when Portuguese ships of commerce obtained the right to land on the peninsula. In 1887, China and Portugal signed the Treaty of Amity and Commerce, which gave Portugal the right of perpetual occupation and sovereignty. In 1967 following the pro-communist riots inhabitants of the peninsula of Macao, Portugal abandoned the territory of the perpetual occupation of Macao. In 1987 China and Portugal signed an agreement making Macao to China in December 1999. Since the Macau peninsula is part of Chinese territory, but with special status until 2049, since local authorities handle everything except defense and foreign relations, similar to Hong Kong.

There are about 540,000 inhabitants on the Macao peninsula, which consists of the main Macau peninsula and two islands of Taipa and Coloane. The currency in Macau is the Pataca is pegged to the Hong Kong dollar.

The activity of gambling in Macao has been operating since 1887 when the Portuguese took administrative control of the peninsula. Macao was so often called the Monte Carlo of the Orient, and the Las Vegas of the East. Today casinos account for 50% of economic activity in the peninsula. 33 casinos are the most important holdings is The Veneto Macau, and most work 24/24. Many games are allowed as Blackjack, Baccarat, rouletteThe ball, Sic bo, Fan Tan, keno and games slots.

 

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