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NEWS ABOUT: Macau

Las Vegas to Lose No. 2 Gambling Spot to...

...Singapore

(AP) - Asia will be home to the world's two biggest casino markets as early as this year, with Singapore set to take the No. 2 spot from Las Vegas, a US gambling industry group said today. Singapore raked in $5.1 billion in gaming revenue last year and could bring... More »

MJ's Moonwalk Debut Glove Fetches $350K

'Holy grail' of Jackson memorabilia blows away presale estimate

(Newser) - The sequined glove Michael Jackson wore during the first public performance of his famed moonwalk sold at auction last night for $350,000, seven times the presale estimate of $50,000. Dubbed the "holy grail of Michael Jackson memorabilia" by the auction house, the glove sold to a Hong... More »

India Mega Weddings Go Global

Families spend millions bringing traditional ceremonies to exotic locations

(Newser) - India's wealthy elite have started taking their famously lavish wedding ceremonies on the road. Luxury hotels in locations like Macau, Thailand, and France compete fiercely to host the giant weddings, which often involve hundreds of guests and support staff flown in for a ceremony and celebrations that can last up... More »

Tainted Tea Pulled in Hong Kong

Latest product recalled for melamine traces

(Newser) - Lipton Milk Tea is the latest product to be recalled in the melamine scare that started with tainted infant formula in China. Unilever is recalling the tea brand from stores in Hong Kong and Macau after finding traces of the industrial chemical in it, CNN reports. Company officials described the... More »

US Casinos Dotting Macau Can't Cash In

Gambling's red hot, but local middlemen take a huge cut

(Newser) - Casinos on the Chinese island of Macau create more gambling revenue than the ones in Las Vegas and Atlantic City combined, but US operators—permitted to set up shop there since 2004—are decidedly not rolling in the money. The Wall Street Journal looks at the bumps in the road... More »

Wynn's Macau Take Disappoints

Chinese casino posts lower revenue than expected

(Newser) - Casino mogul Steve Wynn latest gamble isn't paying off as handsomely as he predicted, the New York Post reports, with shares in his Wynn Resorts falling 10% after weaker-than-expected revenues at his splashy new gaming palace in Macau. Wynn "wildly overestimated" September revenues at Wynn Macau, analysts said, with... More »

Money Trail Leads To North Korean Deal

(Newser) - Freezing accounts in a small bank in Macau 18 months ago was key to the recent U.S. success in negotiating an end to North Korea's nuclear program, the Journal reports. Tracing the "saga of bluff and brinkmanship" that led to the deal, the Journal shows the Bush... More »

North Korea Cools Talks With Demands for Frozen Funds

(Newser) - Talk on North Korean disarmament stalled yesterday when Pyongyang refused to move forward until it receives $25 million that had been trapped in frozen accounts in Macau since February. Frustrated delegates to the six-party talks postured in return, warned that time is running out, while the U.S. said the... More »

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