In 2014, a report by CNN Money stated that Macau had firmly established itself as the ‘undisputed heavyweight champion of the gambling industry’, with Las Vegas and Atlantic City lying bruised and battered on the ropes. However, a lot can change in the space of two years, and now it seems that Macau is ailing badly despite a push to construct new venues.
The former Portuguese colony reported a 20 percent increase in gambling revenue in 2013, with 360 billion patacas ($45 billion at the time) generated overall, positively dwarfing Las Vegas’ total of $6.5 billion over the same period. Macau was soaring high, but just like Icarus it seems as though the Chinese city has flown a little too close to the sun of ambition and is now experiencing a spectacular fall from grace.
Macau is currently reeling from a twentieth straight month of gambling revenue decline, while Vegas saw a considerable increase in its own annual figures, increasing to $11.11 billion in 2015, a rise of 0.9 percent in the space of a year. It is largely thought that the suffering currently experienced by Macau casino bosses is due to a crackdown on corruption by the government that seems to have deterred many high rollers from making the trip from the mainland.
With Macau’s decline predicted to continue for the time being and Atlantic City seemingly set for a bleak future, now seems the perfect time for Las Vegas to regain its crown as the world’s number one gambling hotspot.