Las Vegas is probably the most famous of all gambling destinations across the world, even though it is no longer the biggest. Known as “The City That Never Sleeps”, “Sin City” and “The Entertainment Capital of the World” Vegas Palms online casino inspires a sense of adventure, excitement and fun.
Las Vegas was established in 1905, although not officially designated a city until 1911. Through various changes and the attention of organised crime figures, the first casinos were built along what became known as The Strip. The city grew slowly at first, but in recent years has expanded faster than any other US city.
Monaco is probably the best known gambling centre in Europe. It may not compare with the likes of Las Vegas for sheer size or even its annual revenue turnover, but in terms of class and prestige, The Monte Carlo Casino has no equal. Monaco is a tiny independent nation, the second smallest in the world yet is one of the most densely populated and easily the most expensive place to live on the planet.
Monaco gained its sovereignty in 1861 and has remained an independent state ever since. It has a long history of gambling and the worlds richest and most famous people have all made certain of being seen there. They have a strange law dating back to 1854 that prohibits its own citizens from gambling there and it is actually illegal for them to even enter the casino. Most of Monaco’s inhabitants are therefore millionaires from other countries, since it has no income tax, poverty or crime.
Macau is a former Portuguese colony which was returned to the control of China in 1999 along with Hong Kong. However, Macao has its own monetary and legal systems, its own police force and it also controls it gambling affairs. Macao’s economy is mainly based on gambling tourism and in 1962 its government issued the company owned by Stanley Ho, Sociedade de Turismo e Diversões de Macau an exclusive gambling license, effectively handing him a gambling monopoly.
He turned Macao into one of Asia’s strongest business empires, with income from Ho’s businesses constituting approximately a third of the gross domestic product.
More recently, foreign investment has poured into the state as the potential gambling revenue was realised and in 2006 Macao took over from Las Vegas as the world’s largest gambling centre in terms of overall revenue generation.