ITG - International Technology Group
A key developer, partner, consultant, and out sourcing provider
in the Asian Information Technology Market.
Gaming in Asia
Gaming in Asia and Macao
The government opened up gaming in Macao to a competitive
group of world-class operators. From 1962 to 2002, Macao's gaming industry
was monopolized by a single company, Sociedade de Turismoe Diversoes de
Macao ("STDM"), which is controlled by octogenarian billionaire Stanley
Ho. STDM was granted the sole concession in 1962 by the Government of
Macao to own and operate gaming halls and hotel casinos. In addition to
its gaming activities, STDM and its affiliates have since expanded into
almost every major commercial sector of the Macao economy, including banking,
retail, and substantially all of the high-speed hydrofoil ferry services
that link Macao to Hong Kong.
"The Macao gaming market is recognized as one of the most profitable in the world."
The Macao gaming market is recognized as one of the most profitable in the world. According to information published by The Innovation Group, a U.S. gaming consulting firm, Macao's 12 existing casinos generated USD $3.7 billion in gaming revenue in 2003. By comparison, the Las Vegas market, with 44 casinos on the Las Vegas Strip, generated USD $4.8 billion during the same period. The vibrancy of the Macao gaming market is unquestioned. We believe that as new facilities and standards of service are introduced, Macao will become an even more desirable tourist destination and has the potential to become a larger gaming and hospitality market than Las Vegas.
History of Gambling in Asia
The human race is one filled with gamblers - and it seems
it's always been this way! The very first accounts of gambling were recorded
around 2300 B.C. in China. The wagering of valuables in games of chance
was also very popular in Ancient Greece, despite the fact it was illegal.
This mere technicality failed to halt such activities then, as it does
today in countries around the world in which gambling is banned today.