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
SiGMA North America 2026
01 de September 2026
Evert Montero Analyzed Colombia's Gaming Regulation at SiGMA
(Mexico City) — Speaking at SiGMA North America 2026, FECOLJUEGOS President Evert Montero Cárdenas offered a deep dive into the regulatory shifts shaping the Latin American and North American markets. He highlighted the sustainability challenges ahead for Colombia's industry and the ongoing impact of technological innovation. A major highlight of the September 1-3 summit at Mexico City’s Centro Banamex was Montero's induction into the Hall of Game 2026.
Friday 11 Sep 2026 / 12:00
Sportradar highlights LATAM growth at SiGMA North America
(Mexico City, SoloAzar Exclusive).- Rodrigo Cambiaghi, Sales Executive Lead, Digital Advertising at Sportradar, highlighted the strategic importance of Mexico and the broader Latin American market during SiGMA North America 2026. Held from September 1–3 at Centro Banamex in Mexico City, the event brought together nearly 2,250 delegates and focused on artificial intelligence, innovation, public-private collaboration and the adaptation of global strategies to local market dynamics.
Friday 11 Sep 2026 / 12:00
AIEJA Highlights Success of SiGMA North America in Mexico
(Mexico City, SoloAzar Exclusive).- Dr. Miguel Ángel Ochoa Sánchez, Executive President of AIEJA, underscored the success of the inaugural SiGMA North America in Mexico, noting its crucial role in elevating the local gaming industry on the global stage. Speaking at the event—held September 1-3 at Mexico City's Centro Banamex—he also broke down key regulatory hurdles, strategies to combat illegal gambling, and emerging opportunities within the sector.
Wednesday 09 Sep 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.
