Abstract
Macau is called Las Vegas of the Orient. Is it appropriate now that Macau's gambling revenues are actually bigger than those of its Nevada counterpart? Casino industry and tourism account for approximately 70% of the government annual revenue of Macau in 2012. Gambling industry in Macau has made rapid and remarkable development since Sociedade de Turismo e Diversoes de Macau was granted the monopoly rights to gambling in all forms in 1962. In this essay its economic history is considered in particular reference to the connection between casino industry and STDM.
