The gambling industry is one of the largest financial generators in the world today.
One of the greatest legends in Macau’s history and hospitality scene is that of the former Bela Vista Hotel – the inimitable Grande Dame of the colony, handed back to the Portuguese in 1999 and presently the Residence of the Portuguese Consul General. Macau has capitalised on its long history as a gambling centre, drawing many thousands of visitors from China and Hong Kong. Foreign casino companies have invested heavily since Hong Kong tycoon. The casino: The Venetian isn't just the biggest casino in Macau - it has the world's largest casino floor. Within its 376,000 square feet of gaming space are 640 gaming tables (baccarat, sands.
Macau Casino History Games
The online gambling industry is proliferating, but it is still not able to offer the experience of going to a land-based casino.
Therefore, a lot of people still enjoy visiting brick and mortar gambling venues, and some of them even travel across the world to do so.
The so-called “gambling cities” generate billions of dollars every year from casinos, sportsbooks, and hotel arrangements. The two cities that are the best at doing this are definitely Las Vegas and Macau.
Wynn Macau (Chinese: 永利澳門) is a luxury hotel and casino resort in the Macau Special Administrative Region of the People's Republic of China with two towers containing a total of 1,008 rooms and suites, approximately 273,000 square feet (25,400 m 2) of casino space, over 59,000 square feet (5,500 m 2) of retail space, eight casual and fine dining restaurants, two spas, a salon and a pool. Visible all over Macau is the Stanley Ho efforts of 1970 and beyond. While building began in 1964, it was 1970 that Casino Lisboa first opened. This was the nicest hotel in Macau for three decades. While today there are multi-billion dollar casinos decorating Macau Peninsula and Cotai Strip including the world’s largest casino and a second.
But which one has more success and deserves to be called the “Capital of Casino Gambling?” That’s what we’ll try to answer in this article by taking a closer look at the information collected by Casino Sites in an interesting infographic.
A Comparison of Revenues
Revenues are one of the most important things that we should consider when talking about this topic. It might seem that Macau is at a disadvantage since its surface area is three times smaller than that of Vegas. However, the population of both cities is pretty much the same.
Even though Macau is a much smaller city and has less space to fit gigantic casino resorts, it still has a gambling revenue that is three times higher than that of Las Vegas, which is quite impressive.
The GGR (Gross Gaming Revenue) of Las Vegas is $6.4 billion, 34% of which comes from playing casino games. The rest comes from hotel rooms and restaurants. On the other hand, Macau has a GGR of $28.04 billion. Of this amount, the city will get around $12 billion, which is twice as much as Las Vegas earns in total.
Moreover, Macau’s revenue keeps growing each year. Last year, the revenue rose by 23.7%, which was more than the projected 15-20% growth.
Macau Casino History Website
How Much Do They Tax Casinos?
Gambling cities’ main source of income is collecting taxes from casinos. They need to find a proper balance to take enough to keep growing, but not to take too much, or else they will repel the casino operators.
The monthly tax rate in Las Vegas for gambling businesses is 6.75% of GGR, which is not too bad. However, Vegas also requires casinos to pay a fixed annual tax of $250 on each slot machine if they have more than 15.
Moreover, the federal tax is 15-39%, depending on a lot of factors, and there are additional fees as well. So operating a gambling business in Vegas is not easy at all.
On the other hand, Macau has decided to simplify things as much as possible. Gambling businesses need to pay 40% of GGR in taxes to the city, which is a lot. In total, gambling taxes represent 78% of Macau’s income.
Demographics Play a Role
One of the biggest reasons why Macau is taking the role of the world’s capital of casino gambling away from Las Vegas is the demographics. Namely, two-thirds of Macau’s visitors come from China.
China is a growing economy, which makes people willing and excited to spend money on things they could not afford before. The visitors base is much larger as well since China has a population of 1.3 billion people.
On the other hand, 49% of those who visit Las Vegas come from the Western United States. The rest of them come from foreign countries, mostly from Western Europe. A lot of Vegas visitors come on family and sightseeing trips.
They place some bets along the way, but they avoid overdoing it. That affects the revenue numbers, which is why Vegas earns much less than Macau.
Macau Casino History
You can look at an infographic: https://casinosites.me.uk/lasvegas-vs-macau-infographic/