Macao's gaming revenue surged 22% in 2006, surpassing the Las Vegas Strip as the world's biggest casino market. The Chinese city's gambling industry reaped $6.95 billion in revenue, according to the website of the industry regulator. Analysts estimate that the Las Vegas Strip took in $6.5 billion to $6.6 billion last year. Macao's gambling revenue started to surge in 2004, when Sheldon Adelson's Las Vegas Sands Corp. and Galaxy Casino ended the four-decade monopoly of billionaire Stanley Ho. Foreign investors are staking $20 billion on making the city, a former Portuguese colony, into the gambling capital of Asia.(From: Bloomberg News)
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