Monday, February 05, 2007
The former Portuguese colony of Macau which was returned to the Chinese is a gambling hotbed. The revenues of the casinos in Macau totaled $6.95 billion for 2006 which beat the Strips predicted revenue of $6.5 billion for 2006. Las Vegas legends Steve Wynn and Sheldon Adelson both have large properties in Macau competing with Chinese tycoon Stanley Ho. Macau will siphon off some Asian gamblers which will hurt certain properties in Las Vegas a bit but in the long run Las Vegas will do fine.