Not all bets lead to happy endings, and if anyone should know that it is the authorities in Macau, where freshly minted revenue figures confirm that 2007 was another jackpot year as new casinos appeared like a rash of winner’s gambling chips. Gross gaming winnings at the gambling tables climbed 46.6% last year to a record US$10.4 billion, nearly triple 2003 levels.
A quartet of grand openings helped fuel a boom that has steadily picked up pace since the former Portuguese enclave was returned to Chinese sovereignty in December 1999. The newcomers represent only an early wave of some US$20 billion in investment that is flowing into Macau’s hospitality sector.
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