Macau needs to diversify economy
Thursday 25 de May 2023 / 12:00
⏱ 1 min read
(Hong Kong).- Macau, the world's biggest legal gambling hub, needs to diversify its economy and make greater efforts to safeguard national security, the Macau government quoted a top Chinese official as saying.
The directives were part of six requirements laid out by Xia Baolong, the director of China's Hong Kong and Macau Affairs Office, who is currently visting Macau for four days.
Macau, a densely packed territory on China's southern coast, is the only place in the country where gambling in casinos is legal.
Xia's other requirements are implementing the "one country, two systems" principle that Macau and Hong Kong are both governed under, strengthening national pride, greater integration with neighbouring Chinese island Hengqin and improving overall governance.
Casino operators Sands China (1928.HK), Wynn Macau (1128.HK), Galaxy Entertainment (0027.HK), SJM Holdings (0880.HK), Melco Resorts and MGM China (2282.HK) have faced increased regulatory oversight and are mandated to invest more in non-gaming amenities to diversify away from gambling.
Casinos have committed to investing a combined $15 billion in the coming decade, 90% of which must be spent on non-gaming.
Macau will "fully, accurately and unswervingly implement the new concepts, new ideas and new strategies put forward by President Xi Jinping," Macau's government said.
By Farah Master and Twinnie Siu; Editing by Edwina Gibbs
Categoría:Analysis
Tags: Sin tags
País: Macao
Región: Asia
Event
GAT EXPO CARTAGENA 2026
24 de March 2026
Gamification with Purpose: Andrés Blanco Explains How to Drive Real Engagement at GAT Expo Cartagena
(Cartagena de Indias, SoloAzar Exclusive).- At GAT Expo Cartagena 2026, one of Latin America’s most important gaming industry events, Andrés Blanco, Managing Director and Chief Product Officer at Gamanza Engage, shared his vision of how gamification can become a strategic tool to foster genuine user engagement.
Monday 30 Mar 2026 / 12:00
Nevada’s Regulatory Model, Taxation Challenges and Prediction Markets Take Center Stage at GAT Expo Cartagena
(Cartagena de Indias, SoloAzar Exclusive).- During a high-level fireside chat at GAT Expo Cartagena 2026, Brian Krolicki, Vice Chairman of the Nevada Gaming Commission, and Rodrigo Afanador Carrasco, CEO of Zamba and General Manager of Grupo Vicca, explored key regulatory challenges shaping the global gaming industry, with a particular focus on Latin America.
Monday 30 Mar 2026 / 12:00
GAT Expo Cartagena 2026 came to an end after a resounding success
(Cartagena de Indias).- With this closing, GAT Events continues its remarkable 2026 circuit with upcoming stops in Mexico City, São Paulo, San Juan, Bogotá and Santo Domingo, consolidating its presence as a B2B platform for the development of the legal gaming business in Latin America and the Caribbean.
Friday 27 Mar 2026 / 12:00
SUSCRIBIRSE
Para suscribirse a nuestro newsletter, complete sus datos
Reciba todo el contenido más reciente en su correo electrónico varias veces al mes.