MACAU, the world’s biggest gambling centre, has declared a moratorium on new casinos "for the near future".

Edmund Ho, chief executive of Macau, a special administrative region of China, said that except for projects that had already been approved, no new gaming concession would be granted, and no further land would be granted for the building of casinos.

This follows growing unease in Beijing about Macau’s over-dependence on gambling, and the consequences for its "harmonious" social and economic development.

In the first quarter of 2008, gaming revenues soared by 62 per cent over the same period the previous year, to 30 billion patacas ($4 billion). Within a population of 460,000, this is the equivalent of almost $1000 per person.

Macau’s casinos thus reaped higher takings than those of the US’s Las Vegas and Atlantic City together.

About 93 per cent of the gamblers in Macau come over the border from mainland China.

The city’s gaming taxes rose 53 per cent in the first quarter, to $1.33 billion, 78 per cent of entire government revenues.

Source:http://www.casinonews.org/