The Real Deal New York

From the June issue: Macau used to be an enclave that people visited for a few days in order to gamble at casinos. But since 2002, when the Macau government allowed foreign casino operators to set up shop, Las Vegas heavyweights like Sheldon Adelson and Steve Wynn have set in motion a radical real estate shake-up in the former Portuguese colony, an enclave just slightly bigger than Manhattan. While the recently built casinos and their hotels remain big earners, they have also generated a secondary development boom, this time of high-end residential properties — which are sold to wealthy Chinese buyers with a penchant for gambling.