By Mitch Rice
Macau has a long and illustrious history of international clout. Macau’s economy has been controlled by Portuguese traders since the 16th century and has lasted far into the 20th century. Until the middle of the nineteenth century, when the British established Hong Kong, roughly 60 kilometres to the East, Macau’s port dominated regional trade. Macau and Portugal agreed to a 1999 transfer of administrative power to the People’s Republic of China as the decolonisation movement spread through Asia in the second part of the twentieth century.
Macau was handed over to the Chinese on December 20, 1999, after 442 years of Portuguese sovereignty. Macau has an autonomy that other Chinese territories do not have due to the transfer agreement. Macau, which has been primarily left to run the region on its own, is free to pursue its economic system with little Chinese involvement until 2050.
Big companies from all over the Pacific Ocean began to arrive, bringing their experience in operating and creating casinos and taking inspiration from the local culture. The following brands were chosen to open a store:
- Wynn
- MGM
- Las Vegas Sands is a casino in Las Vegas, Nevada
- Caesars Entertainment
Tourists from over the Chinese border began pouring in at a rapid rate. According to the Statistics & Census Service, Macau received 39,406,181 tourists in 2019. That was a considerable rise from 2001 when just a few hundred thousand visitors.
China’s Ascension to Economic Dominance
China’s ascension to economic dominance has resulted in a slew of well-heeled Chinese who can afford to travel and partake in pricey pastimes like gambling on destinations similar to online casino ICE. To pique interest in the East, the companies began to develop copies of European and American towns, and they were correct. Venetian Macau is the world’s biggest casino, second only to WinStar World Casino in Oklahoma, USA. The casino is 546,000 square feet and has 3,400 slot machines and 800 gaming tables.
Macau Offers a Different Experience
As the world’s gambling capital, Macau provides an experience that is far superior to that of most other gaming destinations. The actual fabric of Macau’s casinos is entwined with entertainment, and you’ll frequently find yourself in opulent, expensive, spacious, and brightly lit royal settings with fountains in the middle and chandeliers treacherously suspended aloft with the weight of thousands of tiny lights.
Macau features over 41 casinos featuring slot machines and table games, as well as unique VIP rooms hidden away from the hustle and bustle of the casino floor and designated for the city’s most well-connected players.
With 3,000 rooms ready to welcome the city’s visitors and one of the largest gaming floors, Venetian Macau certainly has clout. The casino is home to the world-famous Cotai Arena, which has hosted various entertainment events during the years it has been open.
China’s New Year Brings an Opportunity for Macau
The Chinese New Year is a perfect time for gamblers who travel from Hong Kong and China to try their luck at the baccarat tables, blackjack tables, and craps tables, which are the most enjoyable kinds of gambling for most Asian gamblers. While Western gaming is centred on the penny-pinching slot machine experience, Macau is all about real money games. Players can visit the City of Dreams, Altira, Sands Macao, Galaxy Casino, Wynn, Starworld, MGM Grand, or Rio Hotel and Casino, which are all located in the city. Because it isn’t a game for them, Asian players take it seriously. It’s an issue of financial opportunity, as some of the finest animes about gambling have eloquently depicted.
Anyone Can Participate in Gambling
You don’t have to be a tycoon to enjoy the high-rolling experience in Macau since there are plenty of wealthy people willing to wager between $250 and $400 for every hand of baccarat, according to brokerage company Bernstein 2019. However, this tendency is reversing, and the 2020 crisis may have accelerated it. According to Bernstein, VIP revenue would account for just 34% of total gaming and non-gaming revenue at casinos by 2022. In any case, Macau will continue to be the world’s gaming capital when it comes to the VIP experience. For the time being, at least.
Macau’s Casinos
Macau has 38 casinos, with 23 on the Macau Peninsula and ten on Taipa Island. Each casino offers a diverse selection of casino games, including baccarat, blackjack, roulette, poker, and slots, as well as Chinese games such as fan-tan and sic bo.
International Investment in Macau
The Chinese government makes a lot of money through casinos. Gambling-related income accounted for 40% of all taxes collected in Macau in 2001. In 2011, it accounted for 81% of the tax revenue. Foreign corporations were permitted to invest in Chinese assets and compete for casino licenses, which resulted in a significant shift. The only firm with a license to run casinos before this investment was Sociedade de Turismo e Diverses de Macau, SA (STDM)
Macau Casino Revenue
With gaming in Macau growing year after year, the amount of tax earned from gambling profits peaked in 2014, just before China’s president, Xi Jinping, began an anti-corruption drive. The Chinese government considers Macau’s VIP rooms one of the most significant cash outflows from the territory. While high rollers get a lot of privileges, casinos make the majority of their money by having players deposit their money in mainland China before having junket businesses advance it to the casinos’ VIP rooms. Players frequently gamble with large lines of credit, implying that a significant amount of money spent in casinos by VIPs was earned through corrupt methods on the mainland.
