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By Joseph Chaney and Dominic Whiting - Analysis
MACAU (Reuters) - As tiny Macau snatches Las Vegas' title as the world's gaming capital, casino firms, retailers and hoteliers are building a huge new "neon alley" entertainment center that may be one of their biggest gambles yet.
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At a population of only 500,000 people, Macau may seem dangerously under populated. Macau, though, is not much in size, only 16 squared kilometers (10sqm).
When it was colonized by the Portuguese in 1557, Macao was the oldest European outpost in China. In 1987, Portugal and China reached an agreement to return Macao to Chinese rule on Dec. 20, 1999. As with Hong Kong, they agreed on provisions that ensured the autonomy of Macao, including its right to elect local leaders, the right of its residents to travel freely, and the right to maintain its way of life for 50 years after the start of Chinese rule.
Macau in recent years has had a massive economic boost as it is one of the few areas in Asia legally running casinos and other forms of gambling. It is also the only place in China where it is legal, and these days, is outstripping Las Vegas as the world’s gaming capital This aspect of Macau along with it’s limited population allows the city unparalleled city beautification projects.
Macau is said to be the cleanest city in Asia (aside from Singapore) and many of the old colonial buildings remain in perfect condition. It is a beautiful city and GoChinaSites most recommended destination.
Macau is soon to take over Las Vegas as the top revenue generator.
Macau is one of the only places in Asia with legalised casinos in an area surrounded by billions of people.
The Las Vegas Sands Casino has recently finished construction on a fantastic venue in the city, but if you're a gambler/traveller the Lisboa Casino is the place for you.
Find your Macau hotel yourself with GoMacau's hotel listings.
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