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Macau is the New Las Vegas

Many believe that Macau, a small Portuguese colony in Asia, is destined to become the next Las Vegas. With it being the only place in China that casinos are legal, if you want to play a slot machine you have to go somewhere – and it might as well be Macau. People from that side of the world used to have to travel to the states to hit the Strip, but not anymore.

Because of the large amount of cash that has been coming in to the country, Macau looks like it will pass Las Vegas in gambling revenues. With the recent opening of the Grand Waldo Hotel and Casino, it just got even bigger. The casino has just brought in 334 slot machines, along with quite a bit of the glitter and glamour that comes with Las Vegas. They also have something most places don’t – which will make them ideal for the Chinese – a karaoke booth.

The island is being populated at an alarming rate. Every inch of it has been taken by a casino that is either here or on its way. The Grand Waldo opened on the Cotai Strip, which is on 20 acres of reclaimed land that connects Taipai and Coloane.

The only real difference between Macau and Las Vegas is where the money is coming from. In Las Vegas, almost half of their income is coming from the slot machines and other gambling revenue, but the other half comes from non-gaming income. They stay at hotels; they spend money places other than the slot machines. In Macau, they don’t; they spend their money on the slot machines and gaming, but nowhere else. They stay in massage parlors or make day trips, but they don’t spend the extra money in the town.

So although they may be competing with Las Vegas with their slot machine and gambling income, they will not overtake them in all revenue until they get people to start staying at their hotels.

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