Macau Gambling Revenue Surges to $23B in 2010

Written by:
Guest
Published on:
Jan/03/2011

HONG KONG — (Associated Press) - Macau's government says casino gambling revenue surged by more than half in 2010, solidifying its rank as the world's biggest gambling market.

Data posted on a government website Monday showed that casino revenue totaled 188.34 billion patacas ($23.52 billion) last year. That's 57.8 percent higher than the 119.37 billion patacas reported in 2009.

Macau's economy has boomed after a casino monopoly was broken up nearly a decade ago and the market opened up to foreign operators. The former Portuguese colony on the southern coast of China is now the world's most lucrative gambling market. Macau is the only place in China where gambling is legal and casino profits have been boosted by high-spending gamblers visiting from the Chinese mainland

Business/Financial News

Is Online Sports Betting Legal in Massachusetts?

Is Online Sports Betting Legal in Massachusetts?

Massachusetts does not license online sportsbooks at the moment, however, a number of offshore gambling sites are accessible from the state. 

Hedge Fund Manager $1 Million Bet on Bitcoin

Hedge Fund Manager $1 Million Bet on Bitcoin

Mark Yusko, CEO of Morgan Creek Capital, has bet $1 million the Bitcoin will outperform the S&P 500 for the rest of the year and beyond.

Bets Taken on Bitcoin Jump

As Bitcoin continues to recover in the market, one bookie is projecting a fortuitous future for the world's most notorious cryptocurrency.

Is Bovada Legal to Bet on From Tennessee?

Is Bovada Legal to Bet on From Tennessee?

The popular online sportsbook and casino site Bovada (formerly known as Bodog) is among the many online gambling sites accessible to those living in the state of Tennessee. Its bonus offer is much lower than that offered by competing sites however.

Is Online Sports Betting Legal in Tennessee

Is Online Sports Betting Legal in Tennessee

Tennessee has just passed a law that allows for licensing of sportsbooks in-state with online sportsbooks coming to the Volunteer State shortly.

Syndicate