Macau confirms record gambling revenues of over 7 bln usd last yr
The Macau government confirmed that 2006 was a record year for gambling
revenues as it revealed that casino income exceeded 7.0 bln usd last year,
outpacing that of Las Vegas' famous strip. The tiny southern Chinese
enclave's 22 casinos generated 16.7 bln patacas in the final quarter, taking
the year's total gross gaming revenues to 56.2 bln patacas (7.2 bln usd), it
said. By comparison, the 40-odd casinos on Las Vegas' main strip --
including the plush Venetian and MGM resorts -- generated 6.6 bln usd.
Gambling earnings have boomed in Macau since 2001 when the government ended
tycoon Stanley Ho's 40-year monopoly on casinos in the city and allowed
foreign operators to move in.
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