Macau Casinos Threaten Hong Kong Racing
Submitted by Money Cat on Sat, 01/26/2008 - 16:17.
AP is carrying a story concerning the impact of Macau tourism (and gaming) on that great institution of Hong Kong gaming -- the 124-year-old Hong Kong Jockey Club, whose racetrack revenues are one of the secrets of the territory's economic success.
According to AP, the new competitors are draining away at least $2.4 billion a year in potential betting revenue, or about 20 percent of last year's take.
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