Macau, the second-rate gambling city, has evolved into the "Las Vegas of Asia"

Macau has shaken off its image as a "second-rate city" and a "gloomy, dirty gambling city", quickly transforming into an "Asian treasure land" and "Asia's Las Vegas". Gaming consultant Ben Lee summarized the driving force behind this transformation as "competition". Lee stated: "With the breaking of Stanley Ho's 40-year monopoly on Macau's casinos and the increase in licenses to three, even service licenses (which allow the resale of obtained licenses) have been approved. As a result, Macau effectively now has six casino licenses. Through strategic alliances using these additional licenses, fierce competition ensued, causing Macau's casino revenue to surpass that of Las Vegas in just three short years."