Macao overtakes Las Vegas to become world's gaming capital

It's official. Macao is now the gambling capital of the world, after overtaking the glitzy Las Vegas Strip in takings last year.

The tiny southern Chinese city's 22 casinos generated 16.7 billion patacas in the final quarter, taking the year's total gross gaming revenues to 56.2 billion patacas ($7.2 billion), the local government said yesterday.

By comparison, the 40-odd casinos on Las Vegas' famous main strip - including the plush Venetian and MGM resorts - generated $6.6 billion.