HONG KONG – Macau, the world’s biggest gambling hub, needs to diversify its economy and make greater efforts to safeguard national security, the Macau government quoted a top Chinese official as saying.
The directives were part of six requirements laid out by Xia Baolong, the director of China’s Hong Kong and Macau Affairs Office, who is currently visiting Macau for four days.
Macau, a densely packed territory on China’s southern coast, is the only place in the country where gambling in casinos is legal.
Xia’s other requirements are implementing the “one country, two systems” principle that Macau and Hong Kong are both governed under, strengthening national pride, greater integration with neighboring Chinese island Hengqin and improving overall governance.
Casino operators Sands China, Wynn Macau, Galaxy Entertainment, SJM Holdings, Melco Resorts and MGM China have faced increased regulatory oversight and are mandated to invest more in non-gaming amenities to diversify away from gambling.
Casinos have committed to investing a combined $15 billion in the coming decade, 90 percent of which must be spent on non-gaming.
Macau will “fully, accurately and unswervingly implement the new concepts, new ideas and new strategies put forward by President Xi Jinping,” Macau’s government said.
RELATED STORY:
Macau ponders future even as tourists and gamblers return
Your subscription could not be saved. Please try again.
Your subscription has been successful.
Read Next
Subscribe to INQUIRER PLUS to get access to The Philippine Daily Inquirer & other 70+ titles, share up to 5 gadgets, listen to the news, download as early as 4am & share articles on social media. Call 896 6000.
For feedback, complaints, or inquiries, contact us.
For all the latest Business News Click Here
For the latest news and updates, follow us on Google News.
