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Chinese Gambling Continue To Fuel Record Macau Gambling Revenue

When Sheldon Adelson had a vision of investing billions of dollars of his own money in the Macau casino gambling industry, even he may not have known just how big the industry would grow into. In August, revenue continued to surge at Macau casinos thanks to Chinese gamblers from the mainland.

SJM Holdings held a monopoly on the gambling industry in Macau for many years, but several years ago, the government decided to end the monopoly and bring in outside companies. Las Vegas Sands, Wynn Resorts, MGM Mirage, and Melco Crown were some of the companies that invested heavily in the Asian market.

With the global economy floundering in 2008, many within the industry feared that the investment in Macau would not pay off. Shortly after the recession, the Chinese government placed visa restrictions on their residents, further complicating financial progress at Macau casinos.

Something funny happened, however, shortly after the restrictions were put in place, the Chinese government reversed their stance on the issue. The visa restrictions were lifted, and suddenly the Macau gaming industry took off to heights that were never before seen anywhere in the world. Las Vegas had become an afterthought for high roller Asian gamblers.

In August, revenue jumped at Macau casinos by over fifty-seven percent from the same period a year earlier. Gaming revenue jumped to 24.77 patacas, up from 15.77 patacas in August of 2011. The eight month revenue at Macau casinos is up almost fifty percent from the same period in 2011. It is a drastic increase, and one that has sent shock-waves throughout the global gaming industry.

In Nevada, lawmakers are considering regulating online casinos in an effort to make up for all of the revenue that has been lost to the Macau casinos. Ironically, it is many of the same companies that are struggling with their Las Vegas casinos that are reaping the benefits from the Macau gaming destination resorts.

Existing gaming operators and the Macau government have both agreed that the industry is representing too much of the local economy, and both entities have agreed to curb further expansion at this time. The only facilities still in production are ones that were planned before the agreement to stop expansion was made last year.

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