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It was not long ago, only a couple of years in fact, that Macau overtook Las Vegas as the casino gambling capital of the world. Unlike Las Vegas, however, it appears that Macau’s dominance will be short lived.
Macau casinos have already been struggling as of late. Big resorts were built, but new travel restrictions from mainland China have hurt business. Now, the knockout punch may be coming to an area that thought they would dominate the casino industry for a long time.
On Monday, the final hurdle was cleared for casino gambling to become prevalent in Taiwan. Taiwan’s legislature passed a Bill that would allow casinos in Penghu, Kinmen, and Matsu. It is not yet known how many casinos will be operating in those areas.
Singapore has also recently approved casino gambling, and in combination with Taiwan, it could have devastating effects on Macau. The island were hoping to have the casino market all to themselves.
It is not necessarily that the legislature was excited about bringing casinos to Taiwan, but it was something they felt needed to be done. Their tourism had been hurt by Macau and they are planning on using the casinos to help boost the tourism in Taiwan.
Casinos in Macau have had a drop in revenue numbers in the past six months. China is expected to lighten their travel restrictions in 2009, but that may be offset by the addition of casinos in Singapore and Taiwan for Macau.
With The Stakes Rising, Gambling Landscape Changing In The US
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In Black Hawk, Colorado, there are casinos that have done well for a while now. Lately, however, competition from other areas has raised the stakes for these casinos, literally.
Residents of the town are expected to raise the maximum bets $95. Currently, casinos can have max bets of $5, and there is a proposal to raise those bets to $100. Also on the table is adding roulette and craps to the casinos in Black Hawk.
They are not the only area that is raising their stakes. Other states have also had to make adjustments to their betting laws to ensure they can continue to compete on a regional and national level.
The economy is not helping matters. Revenue is declining at casinos all across the nation and the landscape is such that many of these casinos are turning to expansion to stay afloat. It is not only casinos that are raising the stakes.
Individual states have added options to their lottery systems. In Florida, they recently added the multi-state Powerball lottery, and other states have used creativity in areas such as pull tab lottery tickets.
It is predicted by many experts that this is just the beginning of the legalized gambling movement in the US. One expert has predicted that eighty percent of states in the US will have casino gambling in the next ten years.