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The Great Hall. The Venetian Macao (Chinese: 澳門威尼斯人) is a hotel and casino resort in Macau, China owned by the American Las Vegas Sands company. The 39-story [1] structure on Macau's Cotai Strip has 10,500,000-square-foot (980,000 m 2) of floor space, and is modeled on its sister casino resort The Venetian Las Vegas.
Macau's casinos generated about $36 billion in revenue in 2019; Nevada, the home of Las Vegas, reported just under $12 billion in gambling revenue over the same period.
In 2002, the Macau government ended the monopoly system and granted three (later six) casino operating concessions (and subconcessions) to: Sociedade de Jogos de Macau (SJM, an 80% owned subsidiary of STDM), Wynn Resorts, Las Vegas Sands, Galaxy Entertainment Group, the partnership of MGM Mirage and Pansy Ho Chiu-king, and the partnership of ...
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Macau's gambling industry is the largest in the world, generating over MOP195 billion (US$24 billion) in revenue and about seven times larger than that of Las Vegas. [16] Macau's gambling revenue was $37 billion in 2018. [129] Taxes from gambling revenues fund a robust welfare system and an annual cash payment to Macau's citizens. [82]: 204
U.S. casino giant Las Vegas Sands is facing a $12 billion lawsuit from a former partner in a Macau court, in a case set to shine a light over how coveted casino licenses were awarded in the world ...