Macau CE visits casinos, stresses importance of non-gaming projects
Chief executive Ho Iat Seng has visited Macau’s six casino gaming venues and inspected their non-gaming facilities.
Macau.- On the fourth day of the Chinese New Year holidays, Macau chief executive Ho Iat Seng inspected the facilities of all six gaming concessionaires in the city and stressed the importance of their commitments to grow their non-gaming options.
He noted that gaming operators must abide by the commitments in their new contracts and fulfil their social responsibilities to contribute to the development of Macau, especially to protect the employment of locals. He said that non-gaming elements will enable the orderly, healthy and sustainable development of Macau’s entertainment and leisure industry.
Casino operators will need to invest as much as MOP100bn (US$12.4bn) during their ten-year concessions. They will be required to increase their non-gaming investment by around 20 per cent of their initial pledge if Macau’s annual gross gaming revenue reaches MOP180bn (US$22.45bn) by 2027. If that figure is reached in 2028, 2029, 2030, or 2031, the increment will be reduced to 16 per cent, 12 per cent, 8 per cent or 4 per cent respectively.
See also: Macau receives 90,416 visitors on third day of Chinese New Year
