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U.S. markets recover from steep losses
SHANGHAI, Jan. 23 (UPI) -- The Chinese territory of Macao has surpassed Las Vegas to become the world's biggest-grossing gambling center, government figures released Tuesday said.
Gambling revenue in the former Portuguese island colony on the coast near Hong Kong soared 22 percent in 2006 to $6.95 billion, the figures said.
Las Vegas, Nevada, has not released its full-year revenue statistics. But its cumulative figures trailed those of Macao in the final months of 2006 and analysts estimate the total will be about $6.5 billion, The New York Times reported.
In the eight years since Macao was returned to Chinese control, it has experienced a huge boom in casino investment, with millions of mainland Chinese flooding onto the island to gamble.
Some of the world's biggest casino operators -- including Las Vegas magnates Sheldon Adelson, Steve Wynn and Kirk Kerkorian -- have agreed to invest more than $20 billion to build new luxury hotels, giant casinos and V.I.P. suites.
The Sands Macau, opened in 2004, is the world's largest casino as measured by the number of table games.
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CANBERRA, Australia, May 23 (UPI) --
Australia has passed legislation establishing the $10 billion Clean Energy Finance Corp. to provide grants and government investment to green projects.
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ORLANDO, Fla., May 23 (UPI) --
The U.S. Air Force has added Lockheed Martin to its list of companies for support of its medical services worldwide.
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The housing inventory rose slightly in April, which is unusual in the middle of the spring sales season. The uptick may be the result of rising seller confidence and it should ease concerns that the super tight inventory levels of the last six months...
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What if Europe turned out to be the new Japan?
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