From a trading port to a world-famous hub of glitzy casinos, Macau’s gambling industry has grown to dominate the economy of the ‘Monte Carlo of the East’ since it was legalised by the Portuguese about 170 years ago, Caixin Global reported.
As the only part of Chinese territory in which casinos are legal, mainland visitors are the city’s lifeblood. Those visitors once helped Macau’s gambling revenue top that of Las Vegas, making it the world’s No.1 gambling economy. But there is speculation that could change with the arrest of the city’s two top junket operators for ‘high rollers’ from the mainland – Suncity’s Alvin Chau, in November, and now, Macau Legend boss Chau Weng Lin – given the large profits they brought in before the crackdown.
Read the full report: Caixin Global.