05
50.9 %
The gambling industry accounted for more than half of Macau ’ s gross domestic profit in 2019 ( source DICJ ) excessive dependence on gaming and tourism industries .
“ The healthy and stable development of the gambling and tourism sector will continue for a certain period of time , and will be the basis of the continued stability of the economy of Macau . Nevertheless , if the monolithism of the industrial structure remains unchanged , it will inhibit the sustainable development of Macao ’ s economy .”
Operators ’ gaming concessions are due to expire in 2022 . Potential updates on how Ho ’ s administration plans to tackle the renewal process may even come this year .
“ Last April the SAR ’ s chief executive Ho Iat Seng warned that the shutdown caused by Covid-19 highlighted Macau ’ s over-dependence on gambling ”
This means the onus is on the industry to show how it will look to diversify and expand the range of services and products it offers . Anything approaching a Vegas-style revenue split seems to be more of a pipe dream , however .
The following report aims to cover all of these elements in detail , explaining why Macau has developed into such a key industry hub . It will explore who visits and how it will develop in future . My thanks to Alidad Tash , Chris Wieners and Annie Siara for their vauluable contributions .
Robin Harrison Editor , B2B , Clarion Gaming
June 2021