GAMBLE MACAU

ONLINE GAMBLE HISTORY

Gambling in Macau has been legal since the 1850s when the Portuguese government legalized the activity in the colony. Since then, Macau has become known worldwide as the "Monte Carlo of the Orient", and gambling has become a significant part of the city's economy. Until Western-style casino games were introduced in the 20th century, only Chinese games were played, the most popular being Fantan. Now, with all the casinos built in the territory including a few number of new ones (some of them are Las Vegas giant companies) opening up soon, Macau is also known as the Asian Las Vegas where there are many different gambling forms.

Gambling in Macau plays an important role in the economy of the city and the increase in the gamble economic aspects. Many Hong Kong and mainland tourists like gambling there. Few local people in Macau visit casinos, though. Generally, gambling in Macau can be divided into three different categories: casino games, horse racing and greyhound racing. There is also sports betting and a number of lotteries. At the present time, Macau does not license online gaming operations.

In an attempt to generate revenues for the government, gambling in Macau was legalized in 1847 with a new Macau gambling law introduced. In the late 19th century, the government introduced a licensing system (gambling legal system) for the fantan houses (Chinese gambling houses). It is reported that over 200 gambling houses were required to pay gambling rent to the government.[1] The first casino monopoly concession was granted to the Tai Xing Company in 1937.[2] The company was, however, too conservative to fully exploit the economic potential of gambling. The industry saw a major breakthrough in 1962 when the government granted the Sociedade de Turismo e Diversoes de Macau (STDM), a syndicate jointly formed by Hong Kong and Macau businessmen, the monopoly rights to all forms of gambling. The STDM introduced western-style games and modernized the marine transport between Macau and Hong Kong, bringing millions of gamblers from Hong Kong every year. The license was extended in 1986 for another 15 years but expired at the end of 2001.

In 2002, the Macau government ended the monopoly system and 3 (later 6) casino operating concessions (and subconcessions) are granted to Sociedade de Jogos de Macau (SJM, an 80% owned subsidiary of STDM), Wynn Resorts, Las Vegas Sands, Galaxy Entertainment Group, the partnership of MGM Mirage and Pansy Ho Chiu-king, and the partnership of Melco and PBL. Today, there are 16 casinos operated by the STDM, and they are still crucial in the casino industry in Macau, but in 2004, the opening of the Sands Macau ushered in the new era.

During the past seven years, numerous states have legalized various forms of private casino gaming and additional states are poised to do so. This growth is expected to continue in the U.S. Analysts have noted that local markets are still far from saturation, the aging population has more disposable income, governments are in search of additional ways to raise revenue, and competitive pressures for gaming are spreading.

Casino gaming is but the latest growth wave in a series of gambling booms. Almost every state in the U.S. now allows some form of gambling activity, including lotteries, pari-mutuel racing, and bingo, and virtually every community now has some form of gaming activity. Casino gambling has also become highly differentiated. It may take the form of machine gaming, table gaming, state controlled gaming, riverboat gaming, Indian gaming, and charitable gaming.