Macau The Great Casino Story
Macau, the gamblers' paradise in Las Vegas, opened its casino door in 2007, quite late compared to its rivals. Today, it is the most sought after casino in all of Vegas, practically overthrowing all its competitors from the game. It has the highest turnover and all this it has accomplished in just four years time. More than 50% of its revenues come from tourist gambling. At least statistics says so. If this much is not enough for you to pack your bags for the Macau destination, here's some very interesting read to make you do so.
Once upon a time (precisely 1847) in Macau, after the arrival of the Portuguese, gambling started to gain prominence. Slowly it became so popular that gambling was legalized for the purpose of revenue generation for the state, a momentous decision, considering the stringent regulations that used to prevail before the passing of such a law. Chinese gambling was permitted only after certain variations. Soon, more than 200 licenses were issued to various gambling houses, by the state. These houses were required to pay money to the state in the form of gambling rent. So far so good!
In a bid to alter this payment mode and earn more revenues, the Tai Xing Company was given a casino monopoly concession in 1937. However, they turned out to be a failure and couldn't take full advantage of their monopolistic position. The state had to do something to save the trade. Therefore, it gave all the rights of gambling to a rival company, then known as STDM. It was owned by a group of Macau and Hong Kong businessmen. This decision of the state turned out to be the most fruitful as STDM managed to give gambling in Macau a dream run. The western style casino games were brought by these men. After that, there was no turning back!