Macau is tanking, but the looks of its glitzy new $3 billion casino doesn't suggest it

By: Dennis Green

Macau, the special administrative region of China and former Portuguese colony, had a six-year hot streak between 2007 and 2013. But with gaming revenues in a year-long decline, it appears that streak is ending, and the glitzy peninsula is in dire straits.

A few factors have contributed to Macau's plummeting revenues and tourism, but most experts point to China's anti-corruption campaign, which is making Chinese high rollers think twice about going on gambling sprees in Macau.

But that hasn't stopped new development on the peninsula. Just recently, Galaxy Macau launched a $3 billion casino expansion - and there's more where that came from.