09.26.11
China, already the world's second largest bullion consumer, has installed the country's first gold vending machine in a busy shopping district in Beijing, state media said on Sunday.
Shoppers in the popular Wangfujing Street can insert cash or use a bank card to withdraw gold bars or coins of various weights based on market prices, the People's Daily said on its website.
Each withdrawal is capped at 2.5 kilograms (5.5 pounds) or one million yuan (about $156,500) worth of gold, the report said.
Gold vending machines already exist in Britain, the United States, the Middle East and Europe.
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05.17.11
Breibart | American casino mogul Steve Wynn said Tuesday that his US-based gaming firm has become a "Chinese company" as it held its first annual meeting in Macau, now the world's biggest gaming hub.
Wynn Resorts Ltd. was splitting its headquarters between Las Vegas and Macau, the billionaire executive said, with the company's revenue increasingly tied to soaring growth in the former Portuguese colony.
Macau posted $23.5 billion in gaming revenues last year, outpacing the Las Vegas strip by at least four-fold. Much of the eye-popping figure is tied to high-roller gamblers from mainland China flooding into the southern territory—the only place in China that allows casino gambling.
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Photo Courtesy of Wynn Las Vegas
