Macau – Asian Las Vegas
October 6th, 2006Author: Mark Newman
According to some opinion, Macau – the only territory in China that allows casino gambling – soon will compete with the world’s gaming capital – Las Vegas. In 1999 former Portuguese enclave Macau returned to Chinese rule. Stanley Ho held the monopoly in the gambling industry in Macau for 40 years, but in 2002 the government began to invite competition from Las Vegas. So, Ho’s monopoly was over.
Wynn Resorts Ltd. and Las Vegas Sands Corp were the two companies allowed to run their gambling business in Macau. The launch of Sands Macau in 2004 was very successful and attracted lots of visitors. Last year the income Macau got could be compared with the $5.3 billion earned on Las Vegas strip.
Stephen Wynn, an American billionaire, opened a $1 billion hotel casino in Macau on Wednesday. As Wynn believes, his amazing, lavish, trendsetting crescent-shaped complex will attract huge masses of people ready to wager their money. Still, some of Wynn’s critics doubt it.
To attract lots of visitors to Macau, casino owners should not concentrate only on gambling. The entertainment should include places to shop, to see shows, fancy restaurants as well. Only then Macau will be transformed into an Asian Las Vegas.
