Step aside Vegas, Macao is the New Top Dog

Macao surpassed the Las Vegas Strip to become the world’s biggest gambling center in 2006, measured by total gambling revenue, according to industry analysts and government figures released today.

In the eight years since Macao, a former Portuguese colony on the coast near Hong Kong, was returned to Chinese control in 1999, it has experienced a huge boom in casino investment, and millions of mainland Chinese have been flooding into the tiny island territory to gamble.

As a result, gambling revenue soared by 22 percent in 2006, reaching $6.95 billion, according to figures released by the local administration today.

We knew it was coming, and now its official. Macao is the now the world's gambling center. But don't worry Vegas, you'll always have a place in our hearts!

Read more at the Financial Times.

Read More in: News

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