Gaming operators are demanding new casino licences in Macau.
Macau.- The casino industry in Macau (the international gaming hub in China) could keep growing, as financial reports show the city has recovered from a two-year crisis and companies are willing to invest in the development of new venues. The co-chairman and chief executive of Hong Kong-listed casino services firm Macau Legend Development Ltd David Chow Kam Fai urged the government to grant new gaming licences.
“The market requires competition to progress. If the situation remains the same, where [gaming concessionaires] maintain their way of operation, any growth will only go to them [existing operators],” said David Chow Kam Fai. “If the market is big enough, there is no problem for Macau to have two or even three more [casino licenses].”
“I believe Macau people should have more opportunities to take part [in the gaming industry]. I am not pressuring the government, but I think the opportunities should be provided,” he added. “Currently, the majority of the market share of the gaming industry [in Macau] is controlled by non-local companies… Who do you think are the real beneficiaries? Are there chances for local people [to become a casino operator in Macau]?”
The near-future is looking good for Macau according to analysts, as the poor gross gaming revenue (GGR) growth seen in February is expected to improve in March. After being just 5.7 per cent up year-on-year during last month, brokerage Deutsche Bank Securities Inc projected March GGR to be up 17 per cent.