Four years after the actual implementation of its casino deregulation policy, Macao has surpassed Las Vegas as the world’s top gambling destination in terms of annual turnover. Also, various recent surveys have put Macao at the very top of the list in terms of per capita GDP, as its economy grew shortly after the resumption of Chinese sovereignty. How could a tiny city without any natural resources on the southern coast of China have managed to achieve such a miraculous level of development? This book presents an unparalleled study of Macao’s economic dynamism and its gambling industry not only by merging historical and current developments, but also by presenting solid subjective and objective indicators and evidence. It offers an indispensable resource for students, researchers, and general readers looking to understand Macao’s gambling miracle.
A ground-breaking analysis based on a series of longitudinal objective and subjective indicators, not seen in other books on Macao’s gambling industry Socio-economic theories on casino gambling drawn not only from both the West and the East, with particular attention paid to Macao’s unique characteristics in the history of East-meets-West Explores the potential as well as the possible pitfalls of Macao’s gambling-based economy