The Year of the Dragon just started in Asia Pacific region. It will be another consecutive dragon year for the region’s gambling industry.
Under current Chinese gambling laws, the gambling is heavily restricted in mainland China. Yet, the Middle Kingdom residents do have a playing ground at Macau.
The little spot on the map, Macau, generates revenues of over $20 billion a year, more than triple that of a former king of betting, Las Vegas. That’s also more than six times the revenue of Atlantic City.
Growing gambling dragon
With Chinese government crackdown on internet betting in China, Macau has seen over 120,000 visits per day, with a large majority coming from mainland China and nearby Hong Kong where gambling is also restricted.
Most visitors stay in Macau for only a day, with the average stay ranging between one and two days. In order to encourage longer stays, Macau is expanding its tourist attractions to bring whole families to Las Vegas and Disneyland style entertainment combined.
According to China gambling news, there is a runner up looking to grab some of the new Chinese wealth, Singapore. The tiny state and a recent start-up in a gambling business, is already raking in more than $5 billion, looking to overtake Las Vegas, a city that could eventually become a minor league payer in world’s gambling due to poorer and poorer, economic downturn devastated Americans.