Old or not, dad is their favorite ATM machine. My 21-year-old son, Kenji, recently asked me to pay for a spring break vacation to Las Vegas. “Allllllllll my friends are going, Dad!”
Las Vegas? “College kids in Las Vegas” sounds like trouble waiting to happen. I couldn’t stop visions of The Hangover from dancing in my head.
My son is very responsible, a great student, and an all-around wonderful kid … but I still said “no.”
Look, my vegetable farmer father would have never shelled out his hard-earned money for a spring vacation trip. Moreover, my father expected me to work (without pay) on the family farm for Christmas and spring breaks.
I’m just not a big gambler, and I don’t want my children to pick up the habit. However, I think I might be in the minority among my fellow Asians.
Overseas Casinos Out-Vegas Las Vegas
People from Asia, particularly the Chinese, are some of the most-enthusiastic gamblers in the world.
Heck, I once sat in a hole-in-the-wall restaurant in China and watched a group of old Chinese men bet which fly on the wall would take off first.
When it comes to casinos, Las Vegas can’t hold a candle to Macau. Sure, Las Vegas is one of the most-popular tourist destinations in the world, but it is getting out-Vegased by Macau.
Macau is the only city in China that offers legalized gambling, and it earns SEVEN times as much gambling revenue as Las Vegas.
Yup … SEVEN TIMES!
Macau is within a five-hour flight of 3 billion people — nearly half the world’s population. To put this into perspective, Las Vegas is the same distance from only 450 million people!
Unusual New Year’s Resolution for 770K Chinese: Take Up Gambling!
China recently completed its biggest holiday of the year, the week-long Lunar New Year. Hundreds of thousands of Chinese swarmed to Macau for a little R&R and gambling.
According to the Macau Government Tourist office, more than 770,000 mainland Chinese traveled to Macau during the week long holiday, a 23% increase from a year earlier.
And boy, did those 770,000 visitors gamble up a storm!
Macau’s total gambling take for the month of February was $4.8 billion, the highest monthly take EVER and a whopping 40% year-over-year increase.
With that many gamblers and that much gambling action, somebody is making a mountain of money.That somebody could be you because the stocks of five —- yup, five different Macau casinos —- are traded right here in the U.S.A.
- Las Vegas Sands (NYSE:LVS) owns the luxurious Venetian hotel in Vegas as well as a stake in the Macau Venetian and the Marina Bay Sands casino complex in Singapore. That $5.5 billion resort project has a 15,000-square-meter casino, a stunning three-tower hotel with 2,500 rooms, restaurants, nightclubs, shopping, as well as one of the largest convention centers in Asia.
- Wynn Resorts (NASDAQ:WYNN) is one of the most-recognizable names in Las Vegas with the success of Wynn Las Vegas and the Encore at the Wynn. The Wynn Macau is Steve Wynn’s newest and perhaps most-profitable casino yet. Wynn Macau shares are available on the Hong Kong Stock Exchange (1128.HK) or the U.S. over-the-counter Pink Sheets (WYNMF.PK).
- MGM Resorts (NYSE:MGM) is the only Macau casino I’ve visited that wasn’t packed with gamblers, but the firm is also building several hotels in mainland China.
- Melco Crown Entertainment (NASDAQ:MPEL) is a company few Americans have ever heard of, but it owns several Macau casinos and its stock is traded right here in the U.S.
- Lastly, Genting Berhad (GEBHF.PK or 3182.KL) doesn’t own a casino in Macau but it is the third-largest casino company in Asia. It owns/operates casinos in Singapore and the Philippines, plus the only casino in Malaysia as well as the only casino in the state of New York.
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