Competition for Las Vegas
The small administrative region of China, Macau, looks set to overtake Las Vegas as the number 1 gambling destination in the world. According to leisure industry consultants, Globalysis, Macau is predicted to rake in casino revenues of $6.8 billion (£3.6 billion) compared to the $6.6 billion Las Vegas is set to make.
Macau has grown in popularity as a gambling destination since 2001 when foreign casino operators entered the region, investing billions of dollars into new hotels, casinos and entertainment venues. Macau’s 23rd casino, Star World, is set to open this week with casino giants such as MGM Mirage set to follow suit and develop complexes in the region.
Despite having a much smaller capacity than Las Vegas, Macau is surpassing the Nevada resort in terms of revenue because of the gaming preferences of Macau’s players, who mostly enjoy playing at tables for higher stakes than playing slots.
However, the likelihood of Macau enjoying a monopoly in Asia is pretty slim as competition is set to increase as gambling laws all around Asia are relaxing. Las Vegas is also not resting on its laurels, with an expected $20 billion investment over the next 5 years.
Editor, Jackpot.co.uk - 2006-10-26 11:51:44