Las Vegas VS Macau - How a Small Chinese Territory Managed to Usurp Las Vegas as the World’s
Top Gambling Destination
Historically, when you thought of the world’s number one gambling city, Las
Vegas was likely the king of the gamer destinations. For over 50 years, Las
Vegas and its famed strip was the leader in all things gambling and were the
clear go-to jurisdiction for the world’s biggest betters. However, in the
last decade, a small territory off the coast of China named Macau has made
considerable headway and, today has dwarfed the famed Sin City in almost
all things gambling related. A detailed
comparison of these two world-class gambling cities, found on
CasinoSites breaks down the similarities and differences between these
gaming superpower regions. According to the statistics, Macau now brings in
3 times the gambling revenue attracts more visitors and is the new home to
some of the world’s top casino brands. Here is how the small island of
Macau was able to, in less than a decade, move the gambling mecca to Asia.
Fueled By Asian Growth
Likely the top factor in how Macau was able to achieve its dominance can be
attributed to the incredible economic growth of the Asian region. Fueled
by the trade surpluses and the strongest economy on earth, China has
boomed, making its business class some of the wealthiest business people on
the planet. This growth has not only been limited to China but many of
Asia’s powerhouse production economies are cashing in big as well. This new
business class is driving sales of luxury goods, air ticketing, and
vacations, along with many other high-end commodities and services. Macau
has truly benefited from this growth and has managed to attract these
neo-rich classes of Asians to their shores. Furthermore, as Macau is only a
few hours by flight to these countries, it allows for more frequent trips
than a 20-hour, 1-way journey from Asia to Las Vegas.
Tax Advantages For Players
Another key driver of Macau’s gaming growth has been their zero tax policy
on gambling gains. In Las Vegas, an income withholding tax is levied
against patrons of 25-30% for Americans, and 30% for foreign gamblers. This
can be quite substantial in the event of large wins. Macau, with zero taxes
on gambling winnings, is a better situation for the gambling world’s biggest
fish.
These are just a few of the ways Macau has managed to achieve its number
one spot on the world’s gambling stage. A complete comparison of these two
gambling Mecca’s can be found by checking out this comparison from
CasinoSites.
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