How Macau became a powerHouse with a little help from Las Vegas
opened the first American-owned casino in Asia's new Las Vegas: As Las Vegas companies build, local players respond with something new. Analysts said it was only a matter of time before Macau would begin generating more gaming revenue than Las Vegas and become the leading casino market in the world. Not only were the analysts right, they underestimated just how explosive the growth would be. Last year, Macau's gaming revenue grew to $23.4 billion, dwarfing Nevada's $10.4 billion for the year. Now, Macau has a new goal: To unseat Las Vegas as the premier destination resort in the world, accommodating conventioneers and a growing Asian mass market as well as the notorious, high–rolling whales the region is famous for.
T | 3 OCTOBER 2011 | 17
he cylinder-shaped hotel tower housing the Casino Lisboa was what defined gambling for decades in this 17-square-mile former Portuguese colony parked on the shore of the South China Sea. Lacking amenities, flash and class, it lived in Las Vegas' shadow. But all that changed over the past decade after Las Vegas got a piece of the action. Steve Wynn built Wynn Macau across the street from Casino Lisboa. MGM Grand
Macau moved in just down the block from Wynn. As Las Vegas companies began upping the ante, Casino Lisboa owner Stanley Ho knew
he had to respond competitively. So he built a 58-story lotus-shaped tower — the tallest building in Macau. That's the way things have gone since 2004, when Sheldon Adelson's Las Vegas Sands
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