Editing History of Macau (section)

===1999–2007: The rise of Macau as the Las Vegas of Asia===

In 2002, the Macau government ended the [[Gambling in Macau|gambling monopoly system]] and 3 (later 6) casino operating concessions (and subconcessions) were granted to [[Sociedade de Jogos de Macau]] (SJM, an 80% owned subsidiary of STDM), [[Wynn Resorts]], [[Las Vegas Sands]], [[Galaxy entertainment|Galaxy Entertainment Group]], the partnership of [[MGM Mirage]] and [[Pansy Ho Chiu-king]], and the partnership of Melco and PBL, thus marking the begin of the rise of Macau as the new gambling hub in Asia.

As one of the measures to develop the gambling industry, the Cotai reclamation was completed after the handover to China, with construction of the hotel and casino industry starting in 2004. In 2007, the first of many resorts opened, [[The Venetian Macao]]. Many other resorts followed, both in Cotai and on Macau island, providing for a major tax income stream to Macau government and a drop in overall unemployment over the years down to a mere 2% in 2013.<ref>{{cite web | author=Max-Leonhard von Schaper | title=Macau: Unemployment Rates during the past 8 years | url=http://mlvonschaper.wordpress.com/2013/11/03/macau-unemployment-rates-during-the-past-8-years/ | date=3 November 2013 | access-date=7 December 2013 | archive-url=https://web.archive.org/web/20131126153504/http://mlvonschaper.wordpress.com/2013/11/03/macau-unemployment-rates-during-the-past-8-years/ | archive-date=26 November 2013 | url-status=dead}}</ref>

In 2004, the [[Sai Van Bridge]] was completed, the third bridge between Macau island and Taipa island.<ref name=MacauMuseum/>

In 2005, the [[Macau East Asian Games Dome]], the principal venue for the 4th East Asian Games, was inaugurated.<ref name=MacauMuseum>As displayed on the official timeline of Macau at the Museum of History in Taipa</ref>

Also in 2005, the Macau government started a wave of social housing construction (lasting until 2013 at least), constructing over 8000 apartment units in the process.<ref>{{cite web | author=Insituto de Habitacao | title=Social Housing | url=http://www.ihm.gov.mo/en/page/index.php?id=102 | access-date=30 December 2013 | archive-url=https://web.archive.org/web/20131231000107/http://www.ihm.gov.mo/en/page/index.php?id=102 | archive-date=31 December 2013 | url-status=dead}}</ref>