Macau’s chief executive Ho Iat Seng has expressed satisfaction with operators.
Macau.- Macau’s chief executive, Ho Iat Seng, has expressed his satisfaction with casino operators’ endeavours to diversify their offerings beyond gaming. Speaking at a National Day reception, Ho said all six casino operators have been fulfilling their contractual commitments.
Macau’s government views the development of non-gaming activities as crucial to its economic diversification strategy. This was taken into account when assessing applications for the new 10-year Macau gaming concessions that began in January.
The six Macau casino operators have collectively pledged to invest a minimum of MOP108.7bn (US$13.48bn) in non-gaming initiatives and to explore overseas markets. They will 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.
In recent announcements, gaming companies have unveiled plans to invest in revitalisation projects targeting six underdeveloped districts with the aim of attracting more tourists and increasing spending in these areas. Each casino operator has established a dedicated team responsible for developing non-gaming components and coordinating with government departments.
According to Macau Business, Ho acknowledged that progress is still needed to attract more international tourists to Macau. Out of the 11.6 million visitors in the first half of the year, only 475,000 were classified as international travelers, constituting approximately 31 per cent of the daily average seen in 2019.