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Macau Casinos Double Vegas' Take

Posted Apr 21, 08 1:19 PM CDT in Business,  World 

(Newser) – If you thought Las Vegas was gambling’s capital city, think again. Casinos in Macau didn’t just beat Nevada’s finest this quarter, they lapped them. Macau’s gambling revenues jumped 62% from a year ago, doubling Vegas’ take over that stretch—though the casinos, which can't lend money directly to gamblers, have to split some of the take with middlemen, MarketWatch reports.

With high rollers willing to drop HK$10 million (US$1.3 million) or more each night, junket operators have become power players in the system, commanding as much as 50% of casino earnings. And the most profitable game for both was high-stakes baccarat, where casinos boosted their winnings 70%—accounting, in turn, for 73% of all revenues.

Source MarketWatch

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Visitors queue up for entry of the new MGM Grand Macau casino resort after the opening ceremony in Macau in this file photo of Dec. 18, 2007.   (AP Photo/Vincent Yu, File)
The MGM Grand Macau is lit up during the pre-opening of the casino resort in Macau in this December 13, 2007, file photo.   (AP Photo/Kin Cheung, FILE)
Guests attend the opening of the MGM casino resort in MacauTuesday, Dec. 18, 2007.   (AP Photo/Vincent Yu)
A security guard stands in front of the MGM Grand Macau during the opening of the casino resort in Macau Tuesday, Dec. 18, 2007.   (AP Photo/Vincent Yu)
An employee stands next to the gambling table inside the casino during the opening ceremony of the Venetian Macao Resort Hotel in Macau Tuesday, Aug. 28, 2007.   (AP Photo/Kin Cheung)
A technician repairs the slot machine inside the casino during the opening ceremony of the Venetian Macao Resort Hotel in Macau Tuesday, August 28, 2007.   (AP Photo/Kin Cheung)
An employee prepares the chips at the gambling table inside the casino during the opening ceremony of the Venetian Macao Resort Hotel in Macau Tuesday, Aug. 28, 2007.   (AP Photo/Kin Cheung)
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China  • gambling  • casino  • Steve Wynn  • Macao


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