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Macau has previously been impervious to global down turns. After Portugal handed over Macau to China in 1999 , Macau became the only place casino gambling was legal in China and was declared a Special Administrative Region. Casino license were handed out to global casino operators such as MGM Resorts International, Wynn Resorts and the Las Vegas Sands Corporation among others and by 2013 gross gaming revenue peaked at $45 billion, comprising over 75% of the enclave’s total revenue and pulling in seven times more money than Las Vegas. Even as the global financial crisis of 2008, and the European debt crisis of 2012 drove world markets sharply down, Macau continued to grow by leaps and bounds. From its inception in 2002, when Macau saw gambling revenue comprise 41.73% of its GDP, total gambling revenue as a percentage of GDP would hit 91.6% by 2010, thanks in large part to the gambling mecca’s focus on Chinese VIPs. By 2017, the government of Xi Jinping in mainland China began to ease up on its anti-corruption campaign and Chinese whales began to filter back into Macau, but all was not smooth sailing.
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