There's No Signs Of A Slowdown In China's Favorite Gambling Destination

The developing economic slowdown in China didn't stop Macau from netting huge revenues last month.

The gaming metropolis posted a 20% increase in July year-over-year, according to the Macau Gaming Inspection and Coordination Bureau.

Macau, a betting hub located outside Hong Kong, took home $38 billion in gaming revenue last year.

That's six times larger than that of Las Vegas, the world's second largest gaming town. Sin City is also beset with one of the nation's worst unemployment rates, at 10.1%.

Once just a high-stakes gambling destination, Macau is beginning to lure China's middle class.

"Many Chinese tourists come here for shopping purposes, because despite the 30% luxury tax, these top-tier products are still less expensive than if they were bought in Europe," wrote poker.co.uk's Frankie Price.

Of course, Macau's bread and butter remains baccarat, where VIP games account for two-thirds of the town's casino revenue.