Macau’s gaming boom just keeps on giving.
Gambling revenues soared to a new high of $45 billion last year, a whopping 18.6 percent rise over 2012 and the city’s sixth straight year of record earnings. Casinos in this former Portuguese colony, which returned to China in 1999, now earn seven times more than they do in Las Vegas. Casino jobs, which pay 30–40 percent higher than in other sectors, approach a quarter of the labor force. Add in casino-related positions like retailing and hospitality, and about half the working population in this city of 600,000 is connected to the gaming industry. The result is an enviable unemployment rate of 1.8 percent.
June 20, 2014By Martin Murphy