Dubbed as “The New Las Vegas”, thanks to its extravagant casinos, Macau is a leading peninsula city located on the southern coast of China. This city was ceded to China in 1999 after it was ruled by Portugal.
During the Portuguese rule, Gambling was legal in Macau, and it is still legal up to now. In fact, Macau is the only city under Chinese control where gambling is legal. This is perhaps one of the main reasons as to why Macau attracts tourists as well as local and international casino players from around the world. The official languages in this city are Portuguese and Chinese.
After the handover to China, Macau saw a rapid growth in the number of tourists, as there were no longer any travel restrictions. Until 2002, the casino in this ‘Las Vegas of Asia’ has been managed by Stanley Ho, a billionaire known as the father of Macau’s gambling industry.
Gambling markets were opened in 2002 by the Chinese authorities, and this led to foreign and Chinese businessmen joining the market. This change made Macau become a quintessential gambling destination of the East.
The developments brought the opening of world known casinos. During the first decade following the liberalisation, many leading U.S casino operators opened their gambling businesses in Macau. This lead to the creation of MGM Grand Macau, Venetian Macau, Wynn Macau, Sands Macau and many more.
In the year 2013, the gambling industry in Macau became 7x more prosperous than Las Vegas with gambling revenues reaching above $45 billion. That was a 20% increase compared to the previous year. Today, nearly fifty percent of Macau’s revenues are from the gambling business.
Occasional casino enthusiasts such as tourists coming from all across the world are a principal portion of gamblers in this city. On the other hand, high-stake gamblers coming from Hong Kong, China, and nearly regions are the major contributors in the gambling revenues of Macau.
Today, electronics, furniture, textile, and other businesses along with the gambling industry, make Macau a prosperous city. A major annual event here is the Macau Grand Prix, and this year it’s on the 19th of November. What makes Macau appealing is perhaps its wealth of history and unique Mediterranean touch. And it is definitely a travel destination that should figure on your bucket list of places to visit.