Holy Macau!: Wynn Resorts And Las Vegas Sands Head Eastbound And Down
By: Regal Point Capital
Source: Seeking Alpha
We all know that whatever happens in Vegas, stays in Vegas–or at least we should hope! But recently it seems that what happens in Vegas is happening a lot more in Macau — the “Vegas of the East.” Most people in the US are shocked to learn that for every $1 spent in Vegas, $7 is spent in Macau! Below, we’ll go over a couple of names that could help capture some of that Macau money. But first, a quick primer…
Macau is the only place in China where gambling is legal. Originally a Portuguese colony in the sixteenth century, Macau was “officially” handed back to China in 1999. Because Macau is considered a “Special Administrative Region,” the normal laws don’t apply. As most of us know, people tend to want what they can’t have — and gambling is certainly no exception.