JBL: The Macau Shuffle

Singapore took a first big step toward legalized gambling Friday when it announced Las Vegas Sands (LVS Quote) had won the bidding to build the country's first casino.

While Singapore reversed its decades-old ban on casino gambling in 2005, Macau plans to be the gambling capital of the world, and already has gambling revenue matching Las Vegas' (a.k.a. "Lost Wages").

Colonized by the Portuguese in the 16th century, Macau has long been a vital port for regional and international commerce between China and the rest of the world. (Don't you love how when you steal something from somebody, history calls it "colonization?") ...