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Thanks so much the golf.
The gambling industry in the -- you gotta say is simply exploded profits all way up months of a month month after month by the -- -- revenue was up 48%.
If every was up another forty -- all of 2010 it was up 58%.
Jeff Morris with us he's -- former MIT blackjack team member and all -- -- the house advantage he joins us from San Francisco Jeff welcome back good to see again.
There's -- Stewart is pretty -- to say that -- has completely.
Eclipsed Las Vegas as the world's gambling capital.
I want to know who the winners all which casinos which outcome what is all the winners in Macau.
-- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- But in general I think all the casinos sands and Venetian and and the wind they're all doing fine.
I think that industry is -- you know there was a lot of concern early on with the regulations that the Chinese Government might put in and it seems like.
Those might have been overblown as an industry itself is -- playing like he said exploding.
I went to -- Macau casino -- went to the Wynn casino about two years ago actually just after it opened.
And it was a very different environment from Las Vegas it was all table games virtually no slots.
The wasn't much alcohol alone many bars around there were passing out free tea and bottled want to.
But there was so much more money on the table in -- combat the Las Vegas you've been to both.
-- I think it's really I mean you what you hit on is definitely it's -- it's it's much more.
About the gambling in Macau than it is about and in Las Vegas and in Las Vegas you look at what's happened the last two years.
It's here's an ugly was the first time that the non gambling revenue was more than the gambling revenues so big -- has become a lot about you know -- -- shops the restaurants the clubs.
Everything else that they have their besides the gambling in Macau was really focused on the gambler in the hardcore gambler itself because that's you know that's their market that's their demo.
That the future success of -- depends upon the policy is in Beijing.
How many Chinese folks will -- let's go and gamble in -- one of the regulatory restrictions they place on the account that's the story isn't.
Yeah I mean I think that that's the thing that's been in everyone's mind and and maybe that's being overblown a little bit because -- you look at what that some of the analysts were saying.
You know last fall there are saying this is being overblown -- against some of these stocks got depressed because of quote unquote the things that they -- that you know the regulators are -- clearly it hasn't stopped the growth that we've seen what's happened this last quarter -- this last month.
It's been an explosion so.
That regulatory stuff maybe being a little bit overblown we'll have to keep an eye on that -- That's the only reason that that -- I think that'll keep these stocks down -- I I believe Singapore has a new casino big new casino have you been agonizing about his performance.
I have not been there from all I've heard it's beautiful it's you know it is amazing but again I mean.
What we're talking about here is how easy it is to get into Macau and and you know how geographically desirable letters -- the largest population of probably gamblers in the world so that's why Macau has been so successful certainly.
If you look at Macau in terms of where -- was many many years ago where there was no competition around it.
Competition is gonna hurt -- a little bit.
But in general I think that Macau is in such -- geographically desirable spot.
But it's always gonna have you know still some growth potential -- Jeff -- joining us tonight from San Francisco thanks so much Jeff -- again soon.
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