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.
