Revenue in Jul and Aug exceeded the Vegas strip for an entire year. With Sands Corporation getting only 14.2% of net revenue, and 10.3% of EBITDA from their Vegas properties, you wonder how long it will be before they dump their American investments.
It's pretty crazy, but I can't imagine Sands Corp totally exiting the US of A. The American economy will eventually rebound, and the Macau/Chinese bubble will eventually pop (see Japan 1980's). Having diversified holdings is wise.
The bubble is still inflating. October revenue was $3.45 billion in one month, a new record. It was just a few months after breaking the $3 billion barrier.
Total for the last 12 months in Macau is US $33.66 billion . Revenue should take off next year as the new high speed trains begin service.
The American economy will eventually rebound
Define rebound. It will never be anything close to what it
was. My house will never be worth what it was in 2007.
Your house will surpass its 2007 value. It might be 100 years from now, but it will go up. Inflation alone will see to that.
in housing, 40 years seems certainty, 30 yrs a safe bet, 20 yrs 'probably',
Who or what is profiting from these dizzying numbers? Are the Ho clan putting all this cash in banks around the world? Is the Chinese government building roads and schools?
Quote: Taxation Research of Macau
Taxation Research of Macau
The tax system of Macao is basically derived from Portugal. Amendments and improvements have been made constantly on the tax regulations in order to let the tax system adapt more closely to the Territory. As the tax system of Macao is territorial in nature, all activities of commercial or industrial nature which are being conducted in the territory are taxable.
The tax system of Macao has an attractive characteristic of the lowest tax rates as compared to other South East Asian countries. In fact, as the Territory is still in the developing stage, low tax rates are essential for attracting foreign, as well as local investments. The main reason why such low tax rate can be maintained is that direct and indirect taxes are not the principle components of total public revenue. High tax rates and as a result, large tax revenues are what is often seen in other countries. But in the case of Macao, the major source of public revenue comes from revenues from franchises granted, which are actually the rent, the complementary tax other revenues collected from the gaming industry. With the gaming industry supporting most of the Territory’s revenues, the tax burden on local and foreign business and economic activities is highly bearable due to the benefits derived from low tax rate. As a result, the economy of Macao has been developing at a remarkable speed.