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Macao surpasses Las Vegas

3 April 2007

MACAO – As reported by Australia Herald Sun: "Macao says it has overtaken the Las Vegas Strip as the world's biggest casino draw, raking in more than US$7 billion ($8.58 billion) in 2006.

"The tiny southern Chinese enclave's 22 casinos generated 16.7 billion patacas in the final quarter, taking the year's total gross gaming revenues to 56.2 billion patacas ($8.83 billion).

"By comparison, the 40-odd casinos on Las Vegas' famous main strip - including the plush Venetian and MGM resorts - generated $US6.6 billion ($8.09 billion).

"Macao's renaissance from a crime-ridden territory with an ailing gaming sector was led by the Las Vegas Sands company, which opened the Macao Sands in 2004.

"Other big American names to have taken advantage of the relaxed regulatory environment are Steve Wynn's resorts and MGM.

"…Analysts tipped in October that the city had overtaken Las Vegas, based on earnings projections.

"But yesterday's GDP figures are the first time that city officials have confirmed the historic development…"

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