Asian Gambling Hub, Macau, Celebrates 10th Year Under Chinese Control

When looking into the influence that certain factors
have on our lives or nations, a decade is a good tool for measurement. A lot
can happen in ten years and this provides a great scale for comparison. This
Saturday, the Special Administrative Region of Macau can mark its first decade
exclusively under Chinese rule.



Prior to its being ruled by the Chinese, Macau was
under the power of the Portuguese. Exactly a decade ago, the territory was
handed back over to the Chinese and has been subject to Chinese laws ever
since. Chinese gambling law is no exception.



As this region was already under a special
administration, the Chinese decided to continue what was going on and to this
day, this is the only region where gambling is exclusively legal in China.
Despite the legality of gambling in Macau, there are still no online casinos
in China which obtain a Chinese license. Any internet casinos accessible to
the Chinese are based on foreign soil. However, these online casinos are
plentiful, many of which operate in Chinese and accept the Chinese yuan.



Macau has been a glowing point of prosperity for the
Chinese and, according to the Chinese Trade Ministry, trade between Macau and
the Chinese interior has tripled over the last decade, and has yielded almost
$3 billion. Macau’s 2010 budget includes expenditure of 44.646 billion patacas
(US$5.58 billion).



Looking back over the progress that has been made in
this area, the Chinese can only hope for another ten years as prosperous as the
last. Given the success in the area, even under the pressure of apparent
economic recession, it seems likely that the region will continue to bring in
massive revenue.