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Macau Yearly Revenues Rise 18.6%

The world's largest gambling market continued to grow in 2013, as the island destination brought in 360.8 billion patacas ($45 Billion USD), a number that is 18.6% higher than the number reported in 2012.

The numbers came from Macau's gambling ministry, who reported that the increase in revenues was due to a rise in holiday traffic. Macau delivers the largest gambling traffic in the world, bringing in seven times the amount of betting revenue of its next biggest competitor, Las Vegas.

In December, the former Portuguese colony brought in 33.5 billion patacas ($4.19 billion), which was up 18.5% from the same period last year.

The growth of the gambling industry in Macau is expected to continue for some time, as foreign betting groups are continuing to expand operations in lucrative spots such as the Cotai Strip.