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Analysis

Macau needs to diversify economy

Thursday 25 de May 2023 / 12:00

2 minutos de lectura

(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.

Macau needs to diversify economy

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 DE INDIAS 2024

09 de April 2024

EGT & EGT Digital impressed at GAT Expo 2024 showcasing their innovative iGaming solutions

(Cartagena de Indias, SoloAzar Exclusive).- Ms. Silviya Marinova, Director of EGT Colombia, granted an interview to SoloAzar about the performance of the firm at the latest edition of GAT Expo Cartagena. She spoke about the highlights of the tradeshow, the latest innovations showcased including the Phoenix slot cabinet and the all-in-one betting platform X-Nave. She also remarked the importance of their presence in the iGaming Colombian market.

Wednesday 22 May 2024 / 12:00

Casino Garage: committed to sustainability

(Cartagena de Indias, Exclusive SoloAzar) - Meet Ester Tarres, the visionary behind Casino Garage, a world leader in refurbishing second-hand slot machines since its creation in 2006. With a team of professionals, Casino Garage has become synonymous with excellence. In this article, Ester tells us about her presence at the GAT Expo, held from 9 to 11 April.

Tuesday 07 May 2024 / 12:00

Responsible Gaming, Regulation and Certification in Latin America and the Caribbean

(Cartagena de Indias, Exclusive SoloAzar). - Karen Sierra-Hughes, Vice President for Latin America, the Caribbean and Spain at GLI (Gaming Laboratories International), led the GLI Corporate Conference: Technology and Sustainable Gaming. With her extensive experience as a gaming regulatory consultant in the region, Karen offered key perspectives on how technology can drive sustainability in the gaming industry.

Tuesday 07 May 2024 / 12:00

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