Gambling Gains for All as Macau Shares its Gambling Wealth, report JackpotCity

LONDON--(BUSINESS WIRE)--

Macau, now the world's biggest gambling mecca by revenue, is dolling out a share of its gambling revenue to its residents. In 2011 this Asian gambling powerhouse revelled in revenues of $33.7 billion, outstripping Las Vegas by more than five times. A percentage of this money has now been handed out to both permanent and non-permanent residents by the Macau government.

JackpotCity Casino can report each permanent resident will receive a cash payout of $1000 and each non-permanent resident will receive $600. Furthermore, each resident will receive an additionally $750 directly into their retirement fund and $75 worth of medical vouchers.

This is not a new phenomenon. This gambling wealth distribution is an annual occurrence managed by the region's government. However, this year the amount is bigger than ever before and along with these handouts, it's been announced income tax will be reduced by up to 30%, which is a far greater benefit to the entire region.

The payout from 2012's revenues next year could result in even more of a windfall. According to Central News Agency, Macau's revenues from gambling were up by 25.5% between January and April this year and tax revenue collected from the region's gambling also saw a year-on-year rise of 26.3%.

This payout is designed to share and redistribute Macau's huge gambling wealth with all of its citizens, both gamblers and non-gamblers in a city that is fuelled by blackjack, poker, slot machines, roulette and craps. By redistributing this wealth not only does everyone benefit, but also it helps to create a positive view of gambling, one that benefits all of society.

Macau thrives on gambling. It is its main industry and brings in huge wealth and more than 28 million tourists each year and these tourists don't just spend money in casinos. They use shops, bars, hotels and other facilities that then support Macau's economy more broadly. Without gambling Macau wouldn't be what it is today.

-ENDS-

Sources:

http://www.worldcrunch.com/culture-society/how-the-world-039-s-gambling-mecca-shares-the-wealth-with-locals/gambling-casino-casinos-taxes-macau/c3s10145/#.UKSv3n8nG2p