The increasing online betting casinos games have effect the extensive business of the world. Venetian Macao of china is the major casino of the world. It is a mixture of eight hundred fifty gambling tables and three thousand four hundred slot machines and it was built with the investment of US$ 2.4 billion and it produce 70 % of revenue to the government. It covers an area of 976,000 sq meters with 14 hotels. It is considered as the biggest Asian building. Around $12 billion is composed from online high bet casinos annually and there is expected to boost up of it because it is gaining popularity day by day. The online portrayal of casino has turn out to be the game of the wealthy in modern trend.
Macau Still Poised for Growth
Author: Chris Argamur
Over the past decade tiny Macau has managed to grow at an unfathomable pace, but it's not over yet. The Macau casino history is quit impressive. A recent economic and real estate market correction has brought new opportunities to investors who missed out.
Americans know little about Macau, a subtropical former Portuguese colony and now special administrative region off the southeastern coast of China. With land area less than the size of Manhattan and with nearly a half million people Macau's just as dense. Like Hong Kong, the powerful business hub to the north, Macau too has a business-friendly environment and attracts a great deal of foreign direct investment.
If Hong Kong were China's New York, then Macau would certainly be its Las Vegas. Actually, gamblers spent more money here than in Vegas--a cool $ 8 B. Taxes from casino gaming made up about 75% of government revenue. Unlike Las Vegas, Macau offers beaches, genuine colonial architecture, narrow streets reminiscent of European cities, and close proximity to over 1 billion people.
Macau casinos industry and colonial attractions have propelled it to one of China's top tourists destinations. Its tourism industry has more than doubled since 2003 as it welcomed over 27 million visitors last year. Although roughly 75% of tourists are from both mainland China and Hong Kong, the news is spreading fast. Officials expect more international arrivals from Europe, the States, and Australia, and Macau could soon become one of the world's top tourist destinations.
Tourists will notice that Macau is much cheaper than Hong Kong and nearly as safe. Macau's local currency, the pataca is worth about 12 cents to every US$ 1 and cheap Chinese labor keeps expenses low. Tourists can walk about Macau without worry as violent crime rates here on a whole are far lower than in US cities.
Macau's recent economic growth makes Hong Kong look like Michigan by comparison. Since 2001, the economy has grown by 13% annually, GDP growth has been at an astounding 30% since 2006, and unemployment is just 3%. Pricewaterhouse Coopers expects online casino gambling revenues to continue to grow by an average of 16% annually until 2010. Couple that with big construction projects such as the proposed 18-mile long bridge-tunnel connecting Macau to Hong Kong, where most of Macau's investors reside and a huge $4 B theme park. So, Macau is still attracting a steady flow of capital and of course, its future looks bright.
OFFSHORE CORPORATIONS IN MACAU
Macau has long been an offshore destination and tax haven, but things have changed. As too many people from Hong Kong took advantage of the system, Hong Kong officials pressed Macau for change. Now, the local government applies a 15% flat corporate/individual tax rate on profits exceeding about $ 38,000 and just 2 to 14% on profits less than that amount.
Income taxes never exceed 15%. Nevertheless, $125,000 gets an offshore corporation and exemptions from income and industrial taxes, provided that it is in one of the following sectors: archive filing, data processing and warehousing, information consulting and programming, research and development, ship and aircraft operations, technology testing and analysis. Furthermore, foreign employees of offshore entities get income tax exemptions for up to 3 years. The best part is that offshore entities get anonymity, privacy protection, minimal requirements, and flexibility.
Las Vegas Sands (LVS) recently opened the Macau Venetian Resorts Casino, similar to the original in Las Vegas. As the company's president William Weidner put it: "Macao is on the verge of becoming the world's top revenue-producing gaming market.
With more than three billion people within a five hour flight, Macao is poised to become the gaming and leisure destination of choice for a significant part of the world's population." The company's stock price more than doubled between 2006 and 2007 and it recently corrected from a high of $140. Now, shares are very attractive to investors at just $40 to $50.
Wynn Resorts (WYNN) is betting on Macau for future company growth. The new Wynn Macau Resort has a casino, 5-star amenities, and a great waterfront location. Like LVS, WYNN's stock price has more than doubled between 2006 and 2007 and recently corrected from a high of $160. Investing in the company seems more attractive with $ 3.80 earnings per share (EPS), a relatively low price-to-earnings (P/E) ratio, and a much lower share price.
MGM Mirage (MGM) opened the MGM Grand resort / casino hotel Macau last year. Its stock price more than tripled between 2006 and 2007 and has recently corrected down to the 30's, giving investors another great buying opportunity.
Industrial and Commercial Bank of China (ICBC, listed in the U.S. as ICBAF.PK and IDCBF.PK) is already one of China's largest banks, but recently acquired a majority stake in Macau's Seng Heng Bank in order to gain access to all that gaming money. In light of the recent banking crisis, shares have plummeted and seem to be settling at current prices.
Supermall Macau Property (SPYUF.PK) acquires, develops, and sells property in Macau. The stock faced a significant correction bringing its price just above its 52-week low.
Macau Real Estate Market
As previously mentioned, Macau is very, very tiny. Land for development is extremely scarce; however, like any other tourist Mecca’s, Macau is attracting more and more newcomers every year. For instance, it's seen a 30% increase in non-resident workers last year alone. Thus expect Macau to one day rival London, New York, and Hong Kong when it comes to pricey properties.
Many investors have been cautious since the recent pullback in the real estate market. Yes, overdevelopment is an intermediate issue, the outlook is great. Keep in mind that Macau's economy is expanding at phenomenal annual rates and, again it's extremely tiny. Your property investment must appreciate in the long run in one of the 4 principal areas of Macau:
Macau peninsula, the old town and colonial Portuguese city, It borders mainland China and is where all the pre twentieth century architecture remains.
Cotai Strip is on an island separated from the Macau peninsula. If you've ever been to Vegas, you'll notice similarities as this is where the largest concentration of casinos can be found. At less than 3 square miles, it's where you'll find most development and investment activity. Property values here average between $ 20 and $ 30 million per acre!
Taipa is the mostly residential area in between Cotai and old Macau and has most of the area's mid-priced real estate.
Coloane is the southernmost section of the region and is where you'll find beaches, parks, resorts, and golf courses. It's Macau's own green retreat. The few available properties here are amongst the city's priciest. Macau is more than a place--it's a story of contrasts between the Orient and the West, history and modern pleasures, and urbanism and respite. Macau casinos must continue to grow economically, because the Chinese are just beginning their rise to wealth and Macau is their playground.
HOLIDAYS IN MACAU
Author: Andrew Gibson
Macau also spelt Macao is 60 km directly west of Hong Kong. Macau consists of the smaller islands of Coloane and Taipa and the Macau Peninsula which are all are linked together by a bridge. The climate here is described as subtropical. Weather conditions vary from month to month. It has very wet and windy winters but long hours of sunshine in the summer, the summer climate of Macau is long other seasons making it an ideal summer holiday destination. However, warm temperatures can cause thunder showers and heavy rains.
Macau has its own culture, currency and administration. It has cultural amalgamation of Portugal and China as it was colonized by the Portuguese and is located in Chinese grounds. There are plenty of monuments, churches, museums and historical places to visit here that are extremely popular with tourists. The quiet ambience of these beautiful places will have a relaxing on soothing effect. This altogether new experience of beauty and peace is known to be revitalizing and many tourists return here year after year.
Macau is known for its colorful and vivacious culture. There are festivals and carnivals held here that take place in the same months year after year which can be enjoyed by tourists. It may be worth planning your holidays around these events so you can get a taste of what they're really like. The carnivals and street parades and major tourist attractions in Macau and tourists can join in with the celebrations if they wish.
This country is also known for its fantastic night life, it is possible before you arrive there to get information on the local hotspots. The internet offers valuable information of where to go and the places that will ensure an unforgettable night out. Macau is also famous for its bet casinos and bars, the service here is considered to be absolutely 1st class. Again, research into the best places to go before arriving there could prove invaluable.
Macau is the first European settlement in the Far East and the European culture is deep rooted in the country. For those people interested in the historical background of Macau, they can visit one of the many museums. Going on guided tours can also provide insight into the country’s history and culture.
Accommodation and food facilities are key to enjoying your holiday here; there are numerous bars and restaurants to dine in and a variety or self catering apartments and holiday villas that are available to rent from holiday home owners. There are holiday homes available to suit all budge.