Macau's Booming Gaming Industry


Tourists take a ride on a gondola up the man-made canal inside the... News PhotoBusiness,Canal,Finance,Gondola - Traditional Boat,Horizontal,Hotel,Human Interest,Macao,Man Made,Riding,Tourism,Tourist,Venetian HotelPhotographer Collection: Getty Images News 2013 Getty ImagesMACAU - JULY 29: Tourists take a ride on a gondola up the man-made canal inside the Venetian Casino and Hotel on July 29, 2013 in Macau, Macau. Macau, the only place in China with legalized casino gambling is booming. Gambling has been legal in Macau for more than 150 years but has seen a rapid transformation over the last decade from the small time gambling clubs, gangs and prostitution of the 1990s, to becoming the worlds gambling mecca. Last year, Macau generated $38 billion in casino revenue, six times more than Las Vegas, Nevada. Situated just one hour from mainland China and Hong Kong, Macau also known as 'The Oriental Las Vegas ' received 14.1million visitors for the first six months of this year, in the most recent Statistics and Census Bureau report, with close to 90% of visitors being from mainland China, Taiwan and Hong Kong. Although the gambling industry has improved general living standards across Macau, it is not without it's downside. With the influx of big money also comes, higher living costs, with some residents saying issues such as transportation, health care and social welfare have largely been ignored. Property prices have increased dramatically, forcing many small and mid-sized businesses into bankruptcy and pushing some residents to share accommodation or move away completely. (Photo by Chris McGrath/Getty Images)