After three years of limping through the pandemic, the Chinese gambling hub of Macau is coming back to life. Over the Lunar New Year holiday in January, the former Portuguese colony’s cobblestone streets teemed with visitors, restaurants filled with diners digging into specialties such as poached codfish and pastel de nata, and the city’s dozens of casinos were packed. “I’m ecstatic,” says Kwan Man Chi, owner of a snack shop in the historic center. Last year “we only needed one person to run things. Now we have five, and we’re still really busy.”
The rebound comes as welcome news for a casino industry that analysts predict racked up $1.2 billion in losses last year. The enclave unseated Las Vegas as global betting capital in 2006, but it was hammered by the border closures of China’s Covid Zero rules. After topping its US rival in revenue for more than a decade—sometimes sevenfold—Macau last year fell behind again, booking a little more than $5.2 billion, compared with $8.3 billion for the Las Vegas Strip.
Denne historien er fra March 06, 2023-utgaven av Bloomberg Businessweek US.
Start din 7-dagers gratis prøveperiode på Magzter GOLD for å få tilgang til tusenvis av utvalgte premiumhistorier og 9000+ magasiner og aviser.
Allerede abonnent ? Logg på
Denne historien er fra March 06, 2023-utgaven av Bloomberg Businessweek US.
Start din 7-dagers gratis prøveperiode på Magzter GOLD for å få tilgang til tusenvis av utvalgte premiumhistorier og 9000+ magasiner og aviser.
Allerede abonnent? Logg på
Instagram's Founders Say It's Time for a New Social App
The rise of AI and the fall of Twitter could create opportunities for upstarts
Running in Circles
A subscription running shoe program aims to fight footwear waste
What I Learned Working at a Hawaiien Mega-Resort
Nine wild secrets from the staff at Turtle Bay, who have to manage everyone from haughty honeymooners to go-go-dancing golfers.
How Noma Will Blossom In Kyoto
The best restaurant in the world just began its second pop-up in Japan. Here's what's cooking
The Last-Mover Problem
A startup called Sennder is trying to bring an extremely tech-resistant industry into the age of apps
Tick Tock, TikTok
The US thinks the Chinese-owned social media app is a major national security risk. TikTok is running out of ways to avoid a ban
Cleaner Clothing Dye, Made From Bacteria
A UK company produces colors with less water than conventional methods and no toxic chemicals
Pumping Heat in Hamburg
The German port city plans to store hot water underground and bring it up to heat homes in the winter
Sustainability: Calamari's Climate Edge
Squid's ability to flourish in warmer waters makes it fitting for a diet for the changing environment
New Money, New Problems
In Naples, an influx of wealthy is displacing out-of-towners lower-income workers
