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Hong Kong Second To Only Mainland China In Casino Gambling

Macau casinos have easily overtaken Las Vegas gaming facilities as the top casino draw in the world. The Macau industry has been watching revenue rise by over fifty percent for several months in a row, and 2011 in general has seen large revenue increases.

A study conducted by the Hong Kong Jockey Club indicates that it is Hong Kong and mainland China residents that are driving most of Macau's growth. The study shows that Hong Kong residents have gambled over HKD $23 billion in 2010. That figure has nearly tripled since 2005.

The number, however, has steadied over the past couple of years. In 2009, Hong Kong residents gambled HDK $22 billion. It was the first time in history that residents gambled more in Macau casinos, than at the Jockey Club, where horse and sports betting is offered.

The change, according to some analysts could have more to do with the excitement that surrounds Macau casinos these days. Several new gaming facilities have been built, and the resorts offer a wide variety of entertainment options for gamblers and their families. Since Macau has surpassed Las Vegas in gaming revenue, the Macau casino owners have paid more attention to the continued growth of the industry in the Asian territory.

Before long, analysts predict that another Asian market, Singapore, will also pass Las Vegas. Singapore already has a new gaming facility that is bringing in billions of dollars in revenue, and another facility is on its way. Las Vegas gaming owners have been the driving force behind the Singapore industry.

When the economy soured in the US back in 2008, Las Vegas companies such as Wynn Resorts, MGM Mirage, and Las Vegas Sands had already started making their move across the ocean to Asia. The recession put further emphasis on the Asian market succeeding, and all three of the aforementioned companies have had big success in Asia.

Another change to the gaming industry that took place in the past two years is the Asian arms of the American companies hitting the Hong Kong Stock Exchange. Wynn, LVS, and MGM have all had successful initial public offerings in Hong Kong thanks to their fortunes in Macau.

Macau casinos pay a thirty-five percent tax on their gross revenue. The Jockey Club pays over fifty percent for bets they take on horse racing and football. The sports betting has become a big business all across the world, but it pales in comparison to the growing casino industry.

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