Macau casino operators to present 2024 investment plans in September
The six gaming concessionaires’ 2024 investment plans will be focused on non-gaming initiatives.
Macau.- Macau’s six gaming concessionaires are preparing to present their investment plans for 2024 in September. Macau’s secretary for social affairs and culture Elsie Ao Ieong says they will focus heavily on non-gaming initiatives.
As reported by Asian Gaming Brief, the plans will outline casino operators’ strategies to diversify their offerings beyond traditional gambling activities, including in culture and sport. Ao Ieong emphasised concessionaires’ commitment to supporting Macau’s local companies through their investments.
The companies submitted investment plans for 2023 in April, as mandated by their new 10-year gaming concessions. The 2024 plans should give insights into the long-term vision for Macau’s gaming landscape. Under their new concessions, the city’s six gaming operators have pledged to invest US$15.2bn in non-gaming projects over the next few years.
Macau’s gaming industry, which accounts for over 80 per cent of its revenue, was hit hard by the Covid-19 pandemic. As a result, the government aims to reduce its reliance on gaming revenue.
Macau tourism sector calls for more flexible labour rules
The road ahead for Macau’s tourism sector was one of the main topics of a discussion among industry experts organised by Macau Business and the Rui Cunha Foundation on Tuesday (June 6). Attendees cited limited manpower as one of the major obstacles hindering the recovery from the Covid-19 pandemic. They called for greater flexibility in regulations.
Luis Heredia, president of the Macau Hotel Association said existing laws and frameworks often hindered the sector’s growth. The opinion was echoed by Vinzenz Rosa de Pauli, president of SKAL International Macau, who stressed the importance of a diverse workforce to deliver quality service.
Macau’s population has experienced an annual decline of 1.5 per cent, with a decrease in non-local employees cited as a contributing factor. Rehiring former employees who have relocated to other cities poses a challenge for many companies in Macau, as many have settled into their new environments.
