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U.S. markets recover from steep losses
MACAO, April 3 (UPI) -- The Chinese territory of Macao has passed Las Vegas as the world's biggest-grossing casino center, the government confirmed Tuesday.
Gambling revenue in the former Portuguese island colony on the coast near Hong Kong soared 22 percent in 2006 to $7.2 billion, the Statistics and Census Bureau figures said.
Las Vegas' full-year revenue was $6.6 billion.
Macao updated figures it released Jan. 23 saying its revenue was $6.95 billion.
The latest figures also say investment in Macao rose 39.5 percent in 2006, as a record 22 million people visited the island, with 12 million coming from mainland China and 7 million from Hong Kong.
In the eight years since Macao was returned to Chinese control, it has experienced a huge boom in casino investment.
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 VIP 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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