Macau is one of China’s special administrative regions and a former Portuguese colony known for being a playground for Asia’s rich and famous. It’s said that Kim Jong Il’s eldest son, Kim Jong-un (aka “Fat Bear”) likes to party there.
It’s also an offshore financial centre, a tax haven, and a gamblers dream- Citi expects gambling revenue to reach $30 billion this year.
It’s frequently compared to Las Vegas, but actually it’s bigger, and the growth prospects are MUCH better. So for all kinds of reasons, you should probably go scope it out.
Until 2002 all of Macao's casinos were controlled by Stanley Ho, owner of development company SJM. Then the Chinese government got involved, broke up his monopoly, and allowed other developers (including Ho's son) to take a piece of the action. That's when the boom really started.
Citi estimates that, at the rate it's collecting gambling revenue, Macao will be up 40% by the end of the year, if not more.
The Cotai Strip, a casino and tourism project on the 5.2 kilometer piece of reclaimed land of the voast of downtown Macao, is expected to be approved for more casinos this year. It's being developed, mainly, by Las Vegas Sands.
All in all, the Las Vegas Sands' development will boast 20,000 hotel rooms, more than 3 million square feet of retail space, anchored by the Grand Canal Shoppes at The Venetian Macao shopping centre and more than 2.5 million square feet of meeting and convention facilities. Six Las Vegas-style showrooms and a large arena for sports and entertainment events are also in the works for the Cotai Strip Macau.
Source: Business Inside
Some of the more popular spas include The Malo Clinic, Tea Tree Spa, and the Spa at the Mandarin Oriental.
Since 1958, Macao's streets are turned into a raceway once a year for the Macao Grand Prix.
The Docas (The Docks) are Macao's answer to Hong Kong's Lan Kwai Fong area. That means they host an array of bars, hotels, shops, and restaurants that cater to tourists interested in good food and good entertainment.
Nam Van Lake boasts an 86 spout fountain, lit by 288 coloured spotlights. The tallest water jet reaches 80 meters in height. There are also live musical performances around the fountain multiple times a day as well as two 30 minute laser shows per day.
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