Director of Macau’s Gaming and Inspection Coordination Bureau (DICJ), Paulo Martins Chan, has warned Macau’s concessionaires that the government will continue to keep a close eye on their diversification efforts, despite praising their performance so far.
Delivering the keynote address at G2E Asia on Wednesday, Mr Chan said it was vital to the “integrity and quality” of Macau’s gaming industry that the DICJ ensured the ongoing provision of non-gaming amenities.
“We will continue to monitor closely the ongoing operations of the different gaming operators and any changes to the external gaming environment,” he said.
“We are committed to promoting integrity and quality in gaming but also strengthening our regulatory oversight of the industry.
“By supporting more infrastructure which includes hotels, theme parks and shopping malls, Macau is positioned to attract a wider range of tourists.”
Mr Chan said Macau had come a long way over the past 12 months, overcoming 26 consecutive months of decline to now ride a wave of nine straight months of growth. And he credited the DICJ’s persistence in pushing for diversification for helping turn the industry’s fortunes around.
“When I was here in May last year, the Macau gaming sector was experiencing turbulence,” he said. “Gaming revenue had been declining … and Macau was facing competition from many gaming jurisdictions across the globe. Even with so many challenges, Macau had an opportunity for change and transformation.
“Thereafter Macau focused on optimising diversification by actively encouraging gaming operators to develop more non-gaming elements while promoting integrity and quality in the gaming industry. This would be the core quality that would distinguish the gaming sector in the marketplace and allow us to weather any storm that came along.
“A year has now passed and with joint collaboration and persistent effort by the Macau government and gaming operators, I can say that our persistence in promoting economic diversification is keeping Macau on the right track.”
Mr Chan said he believed Macau was now perfectly placed to capitalise on the completion of a number of key infrastructure projects.
“We believe that with the addition of several large-scale infrastructure projects such as the light rail, the Hong Kong-Zhuhai-Macau Bridge and the Cotai Ferry Terminal, along with the One Belt, One Road initiative in the Greater Bay Area, more tourists will visit Macau, further establishing Macau as the world center of tourism and leisure.”
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