ITG - International Technology Group
A key developer, partner, consultant, and out sourcing provider
in the Asian Information Technology Market.
in the Asian Information Technology Market.
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ITG - International Technology Group
A key developer, partner, consultant, and out sourcing provider
in the Asian Information Technology Market. |
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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 AsiaThe 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.
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In 2001, the governments of China and Macao ended STDM's monopoly by expanding
the number of gaming concessions from one to three. In addition, because
holders of these new concessions may grant sub-concessions to unrelated
operators, it was widely anticipated that the changes would result in
a significant number of new entrants into the Macao gaming market. The
vibrancy of the Macao gaming market resulted in an all-time record year
for the sector in 2003. The Finance Services Bureau recently announced
that it expects 2004 tax revenues to exceed the previous year's, setting
another all-time record for the region. 
The
basis of so many of today's favorite gambling games such as Blackjack
and Poker - are also thought to have been invented in China (or nearby).
Sometime around 900 A.D., the Chinese came up with the idea when they
began shuffling paper money (yes, another Chinese invention) into various
combinations. Pai Gow Poker is a game that has its roots in the ancient
Chinese game of Pai Gow. However, now it is combined with American Poker
and has evolved into the modern game of Pai Gow Poker. The interesting
thing about Pai Gow Poker is that you can play the game for a long time
without losing substantial amounts of money; that is if you keep your
wits about you. Pai Gow began as an ancient betting game played with Chinese
dominoes also called tiles. It has been played throughout Asia for centuries.
The goal of the ancient game was to 'make nine', which is what pai gow
means.