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Popular Culture Review
Wynn Group hopes to change the character of Macau gaming by moving away
from day gamblers and attracting people who seek a longer stay, entertainment,
an elegant hotel, and good restaurants. In other words, Wynn hopes to turn
Macau in the direction he took Las Vegas over the past two decades. Other
American gaming corporations also share this vision for Macau.
More importantly for Macau, the Ho family now agrees with the vision
of the Americans. In spite of the family’s extensive personal connections,
political clout, gaming interests, and long history in the former colony, the Hos
were swayed by the Americans, who are greenhorns on their home turf. Many
more and bigger projects are in various stages of development. These include
the k%
City of Dreams,’' a large multi-hotel project by members of the Ho family,
a second much larger hotel-casino by the Wynn Group, a giant $2.5 billion
Venetian Macau project that also includes several hotels, and a $1 billion MGM
Grand Macau that is currently under construction. It is obvious that both the new
casinos and the tourist attractions outside of the casinos, such as the Volcano,
the Roman Coliseum, and the leaning Tower of Pisa, mirror the flamboyance of
Las Vegas. But in spite of the exterior resemblances, there are many differences
between Macau and Las Vegas.
Comparisons with Las Vegas
1. Economy:
The changed economy of Las Vegas has been widely discussed. While
it is still dependent on the tourist industry anchored by the Strip hotels, the
economy has become more diversified as the metropolitan area has grown. The
economics of the hotel-casinos have also changed. They have become less
dependent on the gambling take for their profits. Currently, more than half of the
income of the gaming corporations comes from money spent on meals,
entertainment, and the hotels.
Macau is more like the Las Vegas of the past. Its economy is almost
completely based on gaming revenue. A Reuters report notes that in the first
seven months of 2005, income from direct gaming taxes accounted for 76
percent of the government's total revenues. And until the new hotel casinos
come on line, the income they produce is almost completely from the tables. The
new hotel casinos, with their larger and more expensive hotel rooms, more and
better restaurants, and more forms of entertainment, may change this in the
future. But for now, the gaming tables are the profit centers in Macau.
2. The Casinos:
Casino floors in Las Vegas might be described as a sea of video/slot
machines that surround islands of table games. Fifty-four percent of all gaming
revenues from Las Vegas Strip casinos come from slot machines (Nevada State
Gaming Control Board). Games played at the tables include blackjack, craps,
roulette, baccarat, Pai Gow, and a variety of others. Other islands amidst the