Wednesday, January 24, 2007

Macao: The New Gambling Capital of the World

Macao, the former Portuguese colony in China, appears to be the new gambling capital of the world passing Las Vegas in revenues. In the next ten years it is possible that it could become twice as big as Las Vegas.

Two reasons exist that explain this economic boom. Macao is a port city located on the South China Sea and easily accessible for Chinese and other Asians to visit. Secondly, like Hong Kong, Macao has practically complete independence with internal affairs. This has allowed Macao is have complete capitalism while ignoring China's decreasing, but still present, socialist demands on businesses. As a side effect of their openness and lack of the Communist Party destroying opposition, Hong Kong and Macao are the only places in China with a significant organized crime.

While the newly rich Chinese may prefer Macao and the American masses flock to Las Vegas, Catholicgauze will forever envision Monaco as the gambling haven. Any place which requires women to be in dress and men in formal wear is high class. Monaco wins hands down in the environmental round by being in the Rivera while its competitors are either in the desert or industrial jungle. Also, where else can James Bond-types and Saudi princes play blackjack with millions on the table?


Jonathan Haeber said...

Plus, there are no taxes in Monaco!

Eddie said...

Eating in Macao is a joy, with the Portugese/Chinese fusion going on. Neat sights to see too.

David said...

I have been in Macau casino many times and each time it was so wonderful! I even succeeded to win some money there... :-) it is surely recommended!