The six gaming concessionaires’ 2024 investment plans will be focused on non-gaming initiatives.<\/p>\n\n\n\n\n\n\n\n
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<\/strong> says they will focus heavily on non-gaming initiatives.<\/p>\n\n\n\n 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.<\/p>\n\n\n\n The companies submitted investment plans for 2023<\/a> 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\u2019s six gaming operators have pledged to invest US$15.2bn in non-gaming projects<\/a> over the next few years.<\/p>\n\n\n\n Macau\u2019s gaming industry, which accounts for over 80 per cent of its revenue<\/strong>, was hit hard by the Covid-19 pandemic. As a result, the government aims to reduce its reliance on gaming revenue.<\/p>\n\n\n\n The road ahead for Macau\u2019s tourism sector<\/strong> 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 <\/strong>as one of the major obstacles hindering the recovery from the Covid-19 pandemic. They called for greater flexibility in regulations.<\/p>\n\n\n\n Luis Heredia<\/strong>, president of the Macau Hotel Association said existing laws and frameworks often hindered the sector\u2019s growth. The opinion was echoed by Vinzenz Rosa de Pauli<\/strong>, president of SKAL International Macau, who stressed the importance of a diverse workforce to deliver quality service.<\/p>\n\n\n\n Macau\u2019s 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. <\/p>\n","protected":false},"excerpt":{"rendered":" The six gaming concessionaires’ 2024 investment plans will be focused on non-gaming initiatives.<\/p>\n","protected":false},"author":176,"featured_media":24846,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"is_press_release":false,"is_interview":false,"is_opinion":false,"focusai_summary":"Macau's six gaming concessionaires are set to present their 2024 investment plans, with a strong emphasis on non-gaming initiatives as mandated by their new 10-year concessions to diversify the economy. Concurrently, the Macau tourism sector faces significant challenges, particularly labor shortages, prompting calls for more flexible regulatory frameworks to support recovery and growth.","focusai_entities":"Elsie Ao Ieong, Asian Gaming Brief, Macau Business, Rui Cunha Foundation, Luis Heredia, Macau Hotel Association, Vinzenz Rosa de Pauli, SKAL International Macau","focusai_location":"Macau","focusai_target_profile":"ceo_executive (0.95), regulator (0.9), compliance_legal (0.75), operator_casino (0.95), investor_analyst (0.9), supplier_vendor (0.7), journalist_researcher (0.9)","focusai_suggestions":[{"label":"Non-Gaming Investment ROI?","query":"What are the projected return on investment (ROI) metrics and timelines for the mandated non-gaming investments by Macau's concessionaires, and how will these be evaluated by the government?"},{"label":"Labor Policy Reforms?","query":"What specific legislative or policy reforms are being considered by the Macau government to address the tourism sector's labor shortages and enhance workforce flexibility, and what is the anticipated timeline for implementation?"}],"footnotes":""},"categories":[157,16338,158],"tags":[23906],"class_list":["post-777006078","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-business-news","category-east-asia-news","category-slider-home","tag-macau-casinos"],"_links":{"self":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/777006078","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/users\/176"}],"replies":[{"embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/comments?post=777006078"}],"version-history":[{"count":4,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/777006078\/revisions"}],"predecessor-version":[{"id":777006121,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/777006078\/revisions\/777006121"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/media\/24846"}],"wp:attachment":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/media?parent=777006078"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/categories?post=777006078"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/tags?post=777006078"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}Macau tourism sector calls for more flexible labour rules<\/h2>\n\n\n\n