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
PERU GAMING SHOW – PGS 2026
17 de June 2026
APADELA and the Future of Sports Betting in Peru Following Regulation
(Lima, SoloAzar Exclusive).- During the Peru Gaming Show 2026, Gonzalo Rosell, President of the Peruvian Association of Online Sports Betting and Related Activities (APADELA), analyzed the current state of the Peruvian remote gaming and sports betting market following the implementation of the regulatory framework. In his presentation, “Current Situation of the Remote Gaming and Sports Betting Industry Post-Regulation in Peru,” the executive highlighted the tax challenges facing the formal industry and called for a review of the selective consumption tax.
Friday 10 Jul 2026 / 12:00
Beyond Compliance: New Challenges in Anti-Money Laundering for the Gaming Industry
(Lima, SoloAzar Exclusive).- At Peru Gaming Show (PGS) 2026, Carlos Hermoza Horna, Founder & Managing Partner at CompliLab Legal Latam, delivered a conference focused on how anti-money laundering (AML) compliance in the gaming sector must evolve beyond regulatory obligations. His presentation highlighted the growing sophistication of financial crime, the importance of technology, and the need to build a genuine compliance culture across gaming organizations.
Thursday 09 Jul 2026 / 12:00
Matías Magallón, CEO of ALPS after PGS 2026: "The industry's conversations are becoming more mature"
(Lima, SoloAzar Exclusive).- Following its participation at Peru Gaming Show 2026, ALPS CEO Matías Magallón discusses the company's objectives in Peru, the industry's evolving priorities and the opportunities emerging across Latin America.
Wednesday 08 Jul 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.
