Macau Feels the Pinch of China's Slowdown
Macau’s casino business is showing signs of fatigue. The former Portuguese colony, the only place in China with legalized casino betting, is the world’s top gambling hub, with $34 billion in gaming revenue last year. Thanks to Chinese tourists flocking to the Special Administrative Region, Macau has enjoyed torrid growth—gross domestic product increased by 21 percent last year—and a jobless rate of just 2 percent. Revenue growth for the casinos was even better, climbing 42 percent in 2011.
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