This article is from the source 'guardian' and was first published or seen on . It last changed over 40 days ago and won't be checked again for changes.

You can find the current article at its original source at http://www.theguardian.com/world/2014/jan/02/macau-jackpot-casino-takings

The article has changed 2 times. There is an RSS feed of changes available.

Version 0 Version 1
Macau hits the jackpot with £28bn casino takings Macau hits the jackpot with £28bn casino takings
(4 days later)
The tiny Chinese city of Macau has again smashed its annual record for casino earnings as revenues last year hit a staggering £28bn, further underlining its position as the world's biggest gambling market.The tiny Chinese city of Macau has again smashed its annual record for casino earnings as revenues last year hit a staggering £28bn, further underlining its position as the world's biggest gambling market.
Macau's nearly three dozen casinos raked in 33.5bn patacas (£2.55bn) in December, according to data released by the Gaming Inspection and Co-ordination Bureau, the gambling regulator. That brought revenue for 2013 to 360.8bn patacas up 18.6% from 2012.Macau's nearly three dozen casinos raked in 33.5bn patacas (£2.55bn) in December, according to data released by the Gaming Inspection and Co-ordination Bureau, the gambling regulator. That brought revenue for 2013 to 360.8bn patacas up 18.6% from 2012.
Analyst Grant Govertsen of Union Gaming Research estimated that Macau's take would be more than seven times the amount from the Las Vegas Strip.Analyst Grant Govertsen of Union Gaming Research estimated that Macau's take would be more than seven times the amount from the Las Vegas Strip.
The former Portuguese colony's once-lethargic casino market has thrived since the government ended a gambling monopoly a decade ago and let in foreign players such as Las Vegas Sands Corp and Wynn Resorts.The former Portuguese colony's once-lethargic casino market has thrived since the government ended a gambling monopoly a decade ago and let in foreign players such as Las Vegas Sands Corp and Wynn Resorts.
The ensuing competition has transformed the tiny enclave into a gambling powerhouse, with glitzy new casino resorts centered on the Cotai Strip, marketed as Asia's version of the Las Vegas Strip.The ensuing competition has transformed the tiny enclave into a gambling powerhouse, with glitzy new casino resorts centered on the Cotai Strip, marketed as Asia's version of the Las Vegas Strip.
All six casino operators in Macau, an hour by high-speed ferry from Hong Kong, are pouring billions of dollars into new megaprojects in the district in a fresh round of expansion.All six casino operators in Macau, an hour by high-speed ferry from Hong Kong, are pouring billions of dollars into new megaprojects in the district in a fresh round of expansion.
Macau's casino revenues are the envy of other markets around Asia, which have been looking at ways to duplicate the southern Chinese city's success.Macau's casino revenues are the envy of other markets around Asia, which have been looking at ways to duplicate the southern Chinese city's success.
Increasing numbers of wealthy high-rolling visitors from mainland China have helped power Macau's rise as a casino hub.Increasing numbers of wealthy high-rolling visitors from mainland China have helped power Macau's rise as a casino hub.
Revenue has already overtaken the entire US market, where a year ago around 12,000 casinos raked in $37.3bn (£22.7bn), according to figures from the American Gaming Association. In the same period Macau, which has 35 casinos and a population of about 560,000, took $38bn, according to the Gaming Inspection and Coordination Bureau.Revenue has already overtaken the entire US market, where a year ago around 12,000 casinos raked in $37.3bn (£22.7bn), according to figures from the American Gaming Association. In the same period Macau, which has 35 casinos and a population of about 560,000, took $38bn, according to the Gaming Inspection and Coordination Bureau.
• The subheading on this article was amended on 6 January 2014 to correct a currency conversion
Our editors' picks for the day's top news and commentary delivered to your inbox each morning.Our editors' picks for the day's top news and commentary delivered to your inbox each morning.