Betting on Asia's 'Las Vegas'
If you follow U.S. based gaming giants Wynn Resorts (WYNN) and Las Vegas Sands (LVS), you already know that Macau is now the world's largest gambling destination -- it overtook the Las Vegas strip in terms of revenues in 2006. While Las Vegas still is struggling to get back on its feet in the aftermath of the Great Recession, gambling revenue in Macau rose a whopping 42% to a record $33.47 billion 2011. After a standing start only a decade ago, Macau now generates nearly 5x the revenue of the entire Las Vegas strip.
Unlike Las Vegas, Macau has been relatively insulated from global economic woes, thanks to the patronage of affluent Chinese gamblers. But investors turned more cautious about 2012, expecting slowdown in Macau's growth from 42% in 2011 to 11%-20% in 2012....368 more words left in this article. To read them, just click below and try Real Money FREE for 14 days.
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