History of gambling in Macau

In 1847 gambling was legalized in Macau to generate revenues for the government.  In the late 19th century the government brought in a licensing system for the Chinese gambling houses.  200 gambling houses were needed to pay rent to the government.  In 1937 the first gambling monopoly concession was granted to Tai Xing company.  In 1962 the STDM was formed, this was a syndicate jointly formed between Chine and Macau businessmen, this granted monopoly rights to all forms of gambling.  The STDM brought around western casino games and modernized the marine transport between Hong Kong and Macau.  This change brought millions of gamblers from Hong Kong every year to Macau.  In 1986 the licence was extended to the end of 2001 but in 2001 it finished.  In 2002 the monopoly was stopped and Vegas casino companies opened up Wynn Resorts, Las Vegas Sands and Galaxy entertainment group.  Stanley Ho held the Macau gambling monopoly for 40 years and in 2002 is reign finished.

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This entry was posted on Tuesday, January 5th, 2010 at 11:51 pm and is filed under Casinos in Macau.

2 Responses to “History of gambling in Macau”

  1. Summary of gambling in Macau Says:
    February 26th, 2010 at 6:20 pm

    [...] History of gambling in Macau [...]

  2. Stanley Ho Says:
    February 26th, 2010 at 6:22 pm

    [...] History of gambling in Macau [...]

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