2019
DOI: 10.5750/jgbe.v12i2.1635
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Why has Macao attracted the world-record gaming revenue?

Abstract: Macao, located on the southeast coast of China, is perfectly situated to receive patrons from China about thirty years after its open-door policy in 1978 when they have accumulated significant amounts of wealth. With its gaming liberalization and the supply of such mainland Chinese patrons, Macao has become the world’s gambling capital since 2007. This article aims to analyze the major factors leading to this dominant economic performance. The experience of the mainland Chinese in the Cultural Revolution and t… Show more

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“…With the high percentage of trade receivables as a proportion of the net annual revenue for VIP-rooms and junket operators and their collective contribution to more than 50% of Net trade receivables (1) (4) 3.06 (5) Las Vegas Overall (6) Macao's casino revenues (McCartney, 2017;Siu Lam, 2018), the receivables from both VIProoms and junket operators at the financial year-end should be greater than the total of the six concessionaires, that is, US$900m. The massive credit amount of more than US$1,800m from the concessionaires, VIP-rooms and junket operators, together with the credit interest rates and credit practices based upon the interviews and hereby summarized in Table 5, would give a better picture of Macao's gaming credit market.…”
Section: Macao's Gaming Credit Market and Practicesmentioning
confidence: 99%
“…With the high percentage of trade receivables as a proportion of the net annual revenue for VIP-rooms and junket operators and their collective contribution to more than 50% of Net trade receivables (1) (4) 3.06 (5) Las Vegas Overall (6) Macao's casino revenues (McCartney, 2017;Siu Lam, 2018), the receivables from both VIProoms and junket operators at the financial year-end should be greater than the total of the six concessionaires, that is, US$900m. The massive credit amount of more than US$1,800m from the concessionaires, VIP-rooms and junket operators, together with the credit interest rates and credit practices based upon the interviews and hereby summarized in Table 5, would give a better picture of Macao's gaming credit market.…”
Section: Macao's Gaming Credit Market and Practicesmentioning
confidence: 99%