Casino Macau – William Vlcek does not work for, consult with, own stock in, or receive funding from any company or organization that would benefit from this article, and has disclosed no significant affiliations other than academic appointments.
Macau is China’s answer to Las Vegas. But the former Portuguese colony long ago surpassed the City of Lights as the casino capital of the world, with gambling receipts exceeding the entire state of Nevada in 2010. In addition to attracting players, it has a great architecture to match.
Casino Macau
The story of Macau is the story of globalization and the rise of China. This is the history of globalization due to the role of foreign multinational gambling companies. And this is the story of China’s rise, because it was the economic prosperity of its citizens that allowed them to travel, see the world and gamble in large numbers.
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Macao returned to Chinese rule in 1999 as a special administrative region, meaning it has different laws from the mainland. It is the only part of Greater China (including China, Hong Kong and Macau) where gambling is legal, making it the only gambling destination in the country.
In the years leading up to the handover in 1999, Macau’s environment was fraught and organized crime was violently present, competing for access to VIP contract gaming rooms. These VIP rooms, which host high-stakes games in a private setting, are another dynamic of Macau’s success. The gaming experience in Macau is different from that of other gaming destinations.
Macau’s focus on high-spending customers with private rooms and special privileges — rather than mass-market gamblers — is the source of much of the casino’s revenue. Casinos were originally built around VIP rooms. These were subcontractors of gambling promoters who shared in the profits from attracting wealthy gamblers. These high players accounted for 66% of the casino’s total revenue in 2013.
Casino operations generate significant tax revenue for the state: in 2001, it accounted for 40% of all tax revenue collected. Ten years later, state revenue from casino gaming taxes was 81% of all tax revenue collected. This huge change is the result of the decision to open up the gaming industry and invite foreign companies to compete for a gaming license.
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Until 2001, only one company was licensed to operate casinos, and for four decades it was a monopoly of a company called Sociedade de Turismo e Diversões de Macau, SA (STDM). Since 2002, casino licenses have been issued to several foreign multinational companies and companies. This included major companies from Australia, Hong Kong and the United States, as well as recognized names in Vegas such as Las Vegas Sands, MGM, Galaxy and Wynn Resorts.
They have invested heavily in huge new casino complexes and luxury hotels and shopping malls. Given Macau’s small size—it originally consisted of a mainland peninsula and two small islands measuring 11.6 square kilometers in 1912—reclamation projects were necessary to host the growing industry. By 2010, the territory measured 29.7 square kilometers, including six square kilometers of new territory connecting the small islands of Coloane and Taipa, where there is a large casino complex.
Based on the original Las Vegas, the Venetian Macao is the largest casino in the world. jeafish Ping / Shutterstock.com
These new casinos provided some employment opportunities for local citizens, but the biggest impact on the economy was the number of tourist visitors and the tax revenue they generated. After a decade of ever-expanding growth in gambling revenue and the opening of new casinos, tax revenue from the sector peaked in 2014 and then declined after Chinese President Xi Jinping ordered a broad anti-corruption campaign.
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The government in Beijing saw the VIP gaming rooms in Macau as a massive capital flight from the Chinese economy. Much of this big VIP money was played off as bribery and corruption on the mainland.
In 2014, gambling tax revenue accounted for 84% of the Macau government’s total revenue; by 2017 it had dropped to 79%. But these percentages hide a decline in the actual amount available to the government, from US$20.1 billion in 2014 to US$15.7 billion in 2017. This is because many of China’s elites have avoided Macau’s casinos to evaded investigation during Xi’s crackdown on corruption.
Casino revenues now appear to have stabilised, helped by Macau’s shift away from reliance on the VIP sector towards mass-market entertainment. The government has also encouraged diversification outside of the casino gaming halls and, like Las Vegas, is looking to attract exhibitions and events to be held there.
The new bridge connecting Macao and Hong Kong should support more tourist arrivals by making it easier to travel around the territory, further supporting diversification. But Macau increasingly has to deal with neighboring rivals. The anti-corruption campaign is encouraging Chinese gamblers to visit other Asian gambling destinations, including new resorts in Singapore and Manila in the Philippines.
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Modern Macau is built on the rise of China and the increased wealth of its citizens that this has brought. Macau’s continued success depends on its ability to attract mass-market gamblers as a holiday destination, as well as other tourists. As China’s middle class continues to grow, it should provide a steady supply for years to come.
Write an article and join a growing community of over 175,900 academics and researchers from 4,836 institutions. When you think of Macau, it’s easy to conjure up images of the iconic, iconic Ruin St. resort. Paul and the Portuguese Egg Tart. . But over the years, the city has turned into a literal gambling hub. After all, it is home to over 40 casinos! So if you’re in town and want to test your skills (and luck), these are the best casinos in Macau.
As early as the 1850s, gambling in Macau was legal under the Portuguese government. Since then, the city has become a casino superpower. In fact, it is Macau’s largest source of income – a whopping 50 percent of the economy. Therefore, it is not surprising that more and more casinos are opening in Macau. Each of these has its own unique theme, concept and design. For example, the Parisian Macao, which, as the name suggests, is designed after the glitz and glamor of Paris. When you’re walking around, it’s almost like a reflex to see a casino (or resort) next to you, whether it’s on the island of Macau, Cotai or Taipa. With Macau just a ferry or bus ride away from Hong Kong, there’s no excuse not to visit.
There are six major casino operators in Macau — Sands China, Galaxy Entertainment Group, SJM Holdings, MGM China Holdings, Melco Crown Entertainment and Wynn Macau. If you like your casinos big and flashy, there are plenty of places to deposit your money in Macau. Whether you’re looking for the biggest gaming space or the most luxurious options, there are plenty of places to hit the jackpot. Check out our top picks for the best casinos in Macau below. You bet!
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Among the many casinos in Macau, the Venetian is the largest. This hotel, resort, casino and shopping complex is recreated from its sister property in Las Vegas. It’s complete with the Grand Canal Shoppes, complete with gondolas and gondolier serenades. The Venetian has the largest casino floor in the world with 375,000 square feet of space. Expect to find around 640 table games from baccarat, blackjack and roulette. The place is also home to over 3,000 apartments, four outdoor pools and a rooftop golf course!
Wynn Palace is much more elegant than its sister property, Wynn Macau, which opened ten years earlier. The design of the resort and casino has a more extravagant feel (glitter and brighter lightning). Ultimately, the construction cost more than 4.2 billion US dollars. It has more than 350 gaming tables, and a large part is reserved for VIPs. There are also over 1,000 slot machines where visitors can play a variety of games, including live table games. Wynn Palace is also home to Macau’s largest spa, with a hydrotherapy area, sauna and steam room.
MGM Cotai, separate from its sister venue MGM Macau, has the most extensive collection of contemporary art in the city. So if you love art, this is the place to be. Right down to its exterior, which is meant to look like a jewel box, MGM Macau has a really luxurious decor. Take time to admire over 300 works of art and artistic architecture. When it comes to games, the casino is more intimate. It offers 170 table games, including 12 for VIPs. Although it doesn’t have a main floor copper, we recommend heading to the high stakes section. Or you can choose one of the 1500 slot machines. In addition, MGM Cotai also has the largest indoor LED screen in the world – the size of three tennis courts!
You don’t have to go all the way to Paris to see the Eiffel Tower, you have a miniature copy of it right here in Macau. In terms of its architecture and reception decoration (influenced by the Palace of Versailles), it is the Parisian Macao
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