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Consolidation of the bases and advancement in adversity was the thrust of Macau Chief Executive’s policy address for 2021, though it gave little away when it came to the current pillar of the economy - the gaming industry.
The question of the fast-looming deadline for expiry for Macau’s gaming concessions was given a thorough airing by a panel of experts Thursday night, with the majority coming down in favour of the government deciding to maintain the status quo and number of operators.
Recent diplomatic moves such as this week’s declaration by US Secretary of State Mike Pompeo that he will no longer consider Hong Kong as...
Macau’s operators have stepped up their corporate social responsibility (CSR) efforts in recent years, in particular when it comes to China cultural cooperation, which may help their case when it comes to concession renewal.
At the time of its handover to China in 1999, Macau’s transition from a colonial outpost to a semi-autonomous global gaming powerhouse was far from assured.
The 1999 handover and casino liberalization policy put in place a new phase of development for Macau. All six casino licenses are soon set to expire and once the retendering process has been enacted, Macau will enter a crucial next phase.
Macau’s incoming Secretary for Economy and Finance Lei Wai Nong said the government will provide more detail on the re-tender process for the six casino concessionaires in April, 2020 and stressed the priority will be on the interests of the local people.
The 20th anniversary of the Macau Special Administrative region is upon us. When it comes to gaming, these were not two linear decades. There were plenty of twists and turns.
Ho Iat Seng, the main contender in the elections to pick Macau’s chief executive, formally declared his candidacy on Tuesday, holding a press conference in which he commented on the importance of the healthy development of the gaming industry.
The most significant risk for Macau’s six operators when it comes to concession renewals is likely to be higher taxes, or other “economic rent,” Bernstein Research said in a note.
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