πŸ’ Macau casinos bet on China's rising middle class - Reuters

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One of the things that China's growing middle class is spending money on is travel. And some of these newly minted tourists are finding.


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PA tax revenue from casinos higher than Nevada. Reids 'Net betting bill would benefit his casino backers. MSNBC Las Vegas Sands FCPA investigation spotlights Macau lawyer, profession. The value of Chinas emerging middle class.


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PA taX revenue from casinos higher than Nevada. Reids 'Net betting bill would benefit his casino backers. MSNBC Las Vegas Sands FCPA investigation spotlights Macau lawyer, profession. The value of Chinas emerging middle class.


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Macau is the only city in China where casinos are legal. in gaming revenue in and may continue to do so with a rising middle class in China. I saw a lot of casino and hotel construction as US casino companies are betting that more and​.


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The story of Macau is one of globalisation and the rise of China. As China's middle class continues to grow, it should guarantee a steady.


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its Cotai mega casino in Macau to appeal to China's rising middle class, MGM China opened its $ billion bet on the new face of Macau.


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Democratic idealism's fire will not fade away in both Hong Kong and Macau in the China will allow closer interactions between the mainland middle classes and Chinese interventionism in the local casino economy, the persistence of the forces is seen as the best strategy of economic development in Greater China.


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The story of Macau is one of globalisation and the rise of China. As China's middle class continues to grow, it should guarantee a steady.


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One of the things that China's growing middle class is spending money on is travel. And some of these newly minted tourists are finding.


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By Joseph Woelfel. In August, the island's gaming revenue posted a year-over-year revenue gain of 1. The island is even seeing increased VIP revenue. Macau was a Portuguese colony until , when it was transferred back to China. Last August marked Macau's first year-over-year monthly gain in revenue in two years, and gaming revenue has been looking better since then. In response to the demands of visitors, casinos in Macau are offering family entertainment, fine dining and live shows, on top of normal gambling activities. I agree to TheMaven's Terms and Policy. New resorts are opening in Macau while China's economic outlook brightens. The crackdown on junkets caused the number of VIP visitors to Macau to decline and sharply curtailed the island's gaming revenue. But in , Xi Jinping, the Communist Party general secretary, led an extensive anti-corruption campaign , which included cracking down on junkets. So Macau, just off the coast of mainland China, is perfectly situated. All they had to do was claim that the money was "lost" at the tables, easily getting around mainland laws limiting the amount of cash that Chinese citizens can take out of the country. As Macau transforms from a hard-core gambling destination to a gaming resort with middle-class appeal, the island's gaming companies might be at the beginning of a long winning streak. By Annie Gaus. After a two-year slump in gaming revenue, as shown in the graph below, Macau's gambling business is picking up speed. By Rob Lenihan. Historically, VIPs have made up about two-thirds of Macau's casino revenue. But many VIPs use Macau gambling "junkets," which allow them to circumvent Chinese capital withdrawal limits and to launder money. But it isn't rich VIPs driving profits. Click here to sign up to receive the Truewealth Asian Investment Daily in your inbox every day, for free. In general, Macau's casino customers are divided into two groups: VIPs and mass-market gamblers.

But source its outsize reputation, Las Vegas is small potatoes next to Macau, the world's largest gambling complex on the island close to Hong Kong.

Revenue climbed to 7. That is about four times the gross domestic product of Macau. By TurboTax. Gambling has been legal in Macau since But foreign casino companies weren't allowed to operate there until Gambling has long been a part of Chinese culture.

They are slowly shifting toward a full resort experience, comparable to Las Vegas. One of the things that China's growing middle class is spending money on is travel. One estimate shows that million Chinese citizens are rich enough to travel to Macau, but just 25 million of them have ever visited the island.

VIPs have used junket operators to transfer millions of dollars overseas from Macau. And a macau casinos bet china s rising middle class softening of the Chinese government's anti-corruption campaign, though difficult to measure, could have boosted revenue, too.

By Scott Rutt. By Tony Owusu.

Macau is seven times larger than Las Vegas in terms of total revenue. Macau's casinos look promising. For many gamblers in the U. At Truewealth Publishing, we've found other great investment opportunities. And some of these newly minted tourists are finding themselves in Macau. But casinos in Macau are also changing their "game" to attract more non-gaming tourists. As a result, organized crime retreated into hiding, and many wealthy Chinese, government officials included, limited ostentatious displays of wealth to avoid attention from authorities. And you can click here to learn more about it. This makes Macau an autonomous territory , which means that it is ruled by mainland China, but it isn't part of China. Receive full access to our market insights, commentary, newsletters, breaking news alerts, and more. Kim Iskyan is the founder of Truewealth Publishing , an independent investment research company based in Singapore. But they aren't the only way to invest in China's middle class. Together, these factors have contributed to improved gaming revenue.