Macau's Booming Gaming Industry : News Photo

Macau's Booming Gaming Industry

MACAU - 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)
Caption:
MACAU - 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)
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Date created:
July 29, 2013
Editorial #:
175070426
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Contact your local office for all commercial or promotional uses.
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Rights-managedRights-managed products are licensed with restrictions on usage, such as limitations on size, placement, duration of use and geographic distribution. You will be asked to submit information concerning your intended use of the product, which will determine the scope of usage rights granted.
Photographer:
Chris McGrath / Staff
Collection:
Getty Images News
Credit:
Getty Images
Max file size:
5,145 x 3,430 px (17.15 x 11.43 in) - 300 dpi - 14.2 MB
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Source:
Getty Images AsiaPac
Object name:
75722032

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Tourists take a ride on a gondola up the manmade canal inside the... News Photo 175070426Business,Canal,Finance,Gondola,Horizontal,Hotel,Human Interest,Macao,Man Made,Riding,Taking,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)