Casino Industry in Macau
The Casino Industry in Macau
Research Question
I intend to evaluate the Casino Industry in Macau including the reasons for its high demand and growing success and compare it to the Casino Industry in Las Vegas.
The gaming industry is the livelihood of Macau. It is responsible for 75% of the government’s income and provides the people of Macau with millions of jobs. Even though gambling was first legalized under Portuguese rule to finance the government, it remains the same under Chinese rule today. The rules and regulations set forth oversee the casino industry and grant companies with casino concessions. It is dramatically more profitable than Las Vegas because of the devastating effects of the American Recession.
Introduction
Gambling in Macau has been legal since the 1850’s, although it had existed illegally long before that. It has become a major source of income for the country and can be attributed to the increasing number of tourist visits. The gambling industry in Macau is the country’s number one reason for its economic success. Due to its achievements in the gaming industry, Macau is known as the “Monte Carlo of the Orient” and is Asia’s richest territory (“Booming”). Casino table games are the main form of gambling in Macau. The other two most popular forms are horseracing and greyhound racing. Some other forms of gambling are becoming increasingly popular such as lotteries and sports betting.
Background and History
Gambling was legalized in 1847 in an attempt to generate revenue. At the time, Macau was under control of the Portuguese. The government issued a licensing system for the Chinese “gambling houses”. Each “house” was given a license only if they gave money to the government in return. This was in the form of taxes on the revenues of each house. While gambling is normally something a government at that time would not condone, the current state of the economy called for desperate measures (“Gambling in Macau”). In 1937, the
Research Question
I intend to evaluate the Casino Industry in Macau including the reasons for its high demand and growing success and compare it to the Casino Industry in Las Vegas.
The gaming industry is the livelihood of Macau. It is responsible for 75% of the government’s income and provides the people of Macau with millions of jobs. Even though gambling was first legalized under Portuguese rule to finance the government, it remains the same under Chinese rule today. The rules and regulations set forth oversee the casino industry and grant companies with casino concessions. It is dramatically more profitable than Las Vegas because of the devastating effects of the American Recession.
Introduction
Gambling in Macau has been legal since the 1850’s, although it had existed illegally long before that. It has become a major source of income for the country and can be attributed to the increasing number of tourist visits. The gambling industry in Macau is the country’s number one reason for its economic success. Due to its achievements in the gaming industry, Macau is known as the “Monte Carlo of the Orient” and is Asia’s richest territory (“Booming”). Casino table games are the main form of gambling in Macau. The other two most popular forms are horseracing and greyhound racing. Some other forms of gambling are becoming increasingly popular such as lotteries and sports betting.
Background and History
Gambling was legalized in 1847 in an attempt to generate revenue. At the time, Macau was under control of the Portuguese. The government issued a licensing system for the Chinese “gambling houses”. Each “house” was given a license only if they gave money to the government in return. This was in the form of taxes on the revenues of each house. While gambling is normally something a government at that time would not condone, the current state of the economy called for desperate measures (“Gambling in Macau”). In 1937, the