Macao 2007 Revenues Casino Expected to Hit $10 Billion

Chairman Mao says, "Come for the Communism, but stay for the casinos!" (AP Images)

Macao, China, the Communist empire’s answer to Las Vegas, has been raking in the cash this year with gross revenue expected exceed $10 billion – an increase of 46.5% over 2006. While the year isn’t over yet December looks like it will be a blockbuster month since the MGM Grand Macao opened on Dec. 18 and recorded gross receipts of $6.6 million USD in it’s first two days of business.

There are currently 28 casinos in Macao but with the huge increase in revenue from last year, more casinos are likely to be built in coming years. Especially since the Chinese government collected 34.9% more in taxes from gaming in the first eleven months of this year than it did in all of last.

Las Vegas gaming revenue for 2007 is expected to reach approximately $8 billion.

Macao is a one-hour high-speed ferry ride West of Hong Kong.