Macau seeks to expand its offering
The Chinese region aims to develop its non-gambling offering as it looks to attract more family-friendly businesses.
Macau.- The Macanese tourism chief has revealed that resorts in the Chinese region can generate 40 per cent of their revenue from beyond the casinos and set the goal to develop non-gambling offerings. The area needs to invest in infrastructure and has a long way before it reaches its objective.
Las Vegas has long crossed the 40 per cent mark and Macau looks forward to becoming more like the entertainment Mecca. In Sin City, conferences, nightlife and family-friendly options make up two-thirds of the total revenue, while the region merely reaches 12 per cent, according to brokerage Morgan Stanley.
Galaxy Entertainment is one of the top companies leading the way with non-gambling businesses, as it plans to spend about US$5.7 billion on facilities including a new arena and space for exhibitions. Sands China is also making a move through an arcade where visitors slay virtual-reality dragons and Melco International Development owns a Hollywood-themed property.
However, experts assess that there’s much work to be done as the government should also invest in transportation infrastructure and bureaucracy may stand in the way of the initiative.
