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News Summary: Macau casinos hit $45B jackpot

Macau's casino jackpot hits new heights as 2013 revenues reach $45 billion

The Associated Press

HIGH ROLLER: The Chinese city of Macau has again smashed its annual record for casino earnings as revenues last year hit a staggering $45 billion, further underlining its position as the world's biggest gambling market.

THE BACKGROUND: The former Portuguese colony's once-lethargic casino market has thrived since the government ended a gambling monopoly a decade ago and let in foreign players such as Las Vegas Sands Corp. and Wynn Resorts Ltd.

VEGAS SQUARED: Analyst Grant Govertsen of Union Gaming Research estimated that Macau's take would be more than seven times the amount earned on the Las Vegas Strip.