The city of Macau is the only Chinese territory where it is legal to gamble in a casino... and it also happens to be the world's largest gambling city. Forget Vegas: Macau's casino revenues beat Vegas's five times over in 2012. Unlike Vegas, which makes most of its money in penny slots, most of the money generated in Macau (75 percent!) comes from high rollers making huge bets at table games in V.I.P. rooms.
You're absolutely correct! Macau has indeed earned the title of the world's largest gambling city, surpassing even Las Vegas in terms of casino revenues. This transformation over the years has been remarkable.