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March 31, 2008 - It isn't surprising that Macau's casino gambling industry has been faring as well as it has in the last few years. And as fast as the "Las Vegas of the East" continues to grow, the general sentiment from most gamblers is "that's supposed to happen, right?" But would anybody have thought that Macau would have a richer economy than Italy?

Sure, I'm talking in terms of gross domestic product per capita, which is now $36,357 in Macau (a rise of 27% from last year). And considering that Macau's population is just under 540,000 and that there are more luxury casinos gathered together than anywhere else in the world other than Las Vegas, you might expect the GDP to be a littler higher than average.

So, I guess what I'm getting at is that Macau is now the richest territory in all of Asia. But here's the rub. The irony of the situation (which really isn't that surprising) is that as the rich get richer, the "poor"...well, they don't get poorer, but they are getting only moderate rises in employment earnings. Let me tell you that a median monthly income of $1,020 is by no means a poor-man's income in many other countries. But if you do the math and weigh in all the hours being worked, $300 a week is no walk in the park.

What makes things worse is that inflation is growing at an alarming rate. Annually, it's risen almost 10%, which is a twelve-year high for Macau. With rent prices having risen over 15% and medical expenses to over 24%, the Macau casino gambling industry might need to rethink a few things over in how they can help foster responsible gaming practices.

And with a 47% increase in casino revenue last year alone, which came in at over $10.3 billion and continued growth of 20% more annual revenues until at least 2010 (so predicts Stanley Morgan), Macau is definitely going to need some economy stimulation incentives in place if they don't want to turn into Sherwood Forest.

If you'd like some more information on the Macau casino scene, Online Casino Suite highly recommends the Wizard of Macau - the companion website to Michael Shackelford's highly touted The Wizard of Odds. Wizard of Macau offers some great rules and strategy on popular casino games in Macau, casino reviews, photos and maps. It's definitely worth a visit if you are planning a gambling trip to Macau.

Originally published: March, 2008  Categories: Gambling