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
AffPapa Conference Madrid 2026
18 de May 2026
AffPapa Conference 2026 Opens in Madrid with Expanded Agenda
(Madrid, SoloAzar Exclusive).- Madrid welcomes the biggest edition of AffPapa Conference yet, bringing together over 1,500 affiliates, operators, and B2B providers for three days of networking, sports, and iGaming insights. The official welcome takes place today, and SoloAzar is on site to deliver the latest updates.
Tuesday 19 May 2026 / 12:00
AffPapa Welcomes Amusnet as a Signature Sponsor for AffPapa Conference Madrid 2026
(Madrid).- AffPapa is excited to welcome Amusnet as a Signature Sponsor at the AffPapa Conference Madrid 2026.
Monday 11 May 2026 / 12:00
AffPapa Conference Madrid Set to Be Largest Affiliate-Led Event Yet, Says its CEO Levon Nikoghosyan
(Madrid, SoloAzar Exclusive).- SoloAzar sat down with Levon Nikoghosyan, CEO and co-founder of AffPapa and iGaming Club, to discuss the upcoming AffPapa Conference Madrid, where more than 1,500 participants are expected. In this interview, he explains why Madrid was chosen over Málaga, what attendees can expect from speed‑dating sessions, expert panels, and off‑site networking, and how the event is shaping up to be the biggest in AffPapa’s history.
Thursday 07 May 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.
