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Gambling in Macau
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Gambling in Macau, a special administrative region of China, is the only place in China where casinos are legal. Gambling has been legal since the 1850s when the Portuguese government legalised the activity in the autonomous colony. After the handover of Macau from Portugal to China, Macau and the business has grown at an astounding pace since 2001, when the government ended the four-decade gambling monopoly of the Hong Kong billionaire Stanley Ho.[citation needed] With the entry of large foreign casinos from Las Vegas and Australia, Macau overtook the Las Vegas Strip in gambling revenues in 2007.[1] Since then, Macau has become known worldwide as the "gambling capital of the world",[2][3] grossing the highest amount of gambling/gaming revenue and greatly dwarfing all the other gambling centers/cities.[2][3][4]
Gambling tourism is Macau's biggest source of revenue, making up about 50% of the economy. Visitors are largely from mainland China and Hong Kong.
- ^ Barboza, David (23 January 2007). "Macao Surpasses Las Vegas as Gambling Center". The New York Times. ISSN 0362-4331. Retrieved 12 January 2022.
- ^ a b Branigan, Tania (11 May 2011). "Macau – gaming capital of the world". The Guardian.
- ^ a b "Macau: The world's gambling capital". BBC News.
- ^ Riley, Charles (6 January 2014). "Macau's gambling industry is now 7 times bigger than Vegas". CNNMoney.
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