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25 January
2008 Macau Revenue
Soars And Closes In On Las Vegas Gaming revenues
in the southern Chinese territory of
Macau
soared last year, beating expectations and
rivalling proceeds from the Las Vegas
region. Revenues rose 46%
to 83.8bn Macanese patacas ($10.4bn; £5.3bn)
in 2007, according to official figures. Figures for Clark
County in the US, which contains Las Vegas, have
yet to be released, but were $10.6bn in
2006. Many Chinese are
keen gamblers and Macau is the only part of China
where casinos are allowed. Baccarat and VIP
baccarat are particularly popular - they
contributed 86% of the total revenue. Macau's casino
sector has been booming since a 2001 law stripped
Stanley Ho's SJM group of its monopoly. Many Las Vegas
operators have been attracted since then, with the
new MGM Grand resort opening in Macau last
month. The figures were
released by Macau's Gaming Inspection and
Co-ordination Bureau. Last year,
Macau's gambling revenues overtook those of the 40
casinos along Las Vegas Strip. |
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