Not so long ago Macau dealers were unhappy about their very low wages and rapidly rising living costs, but a few months further on things have changed. Gaming staff are now at a premium as expanding casino operations struggle to find sufficient employees. In 2004 gambling revenues rose over 30% and some analysts predict that they will continue to rise by an average 18% a year until 2008. Tourist numbers last year reached a record 16.7 million, and new casino resorts are being developed to accommodate them.

Greek Mythology, which opened 23 December with 228 gaming tables, added a further 272 tables in phase 2 in time for the Chinese New Year last February. Phase 3 was to add 500 more, but the casino expansion has been delayed through a lack of skilled labour. Other gaming venues have been forced to close tables because of the shortage. As the problem becomes acute, casinos will have to cut into their profits in order to pay higher wages.

Over the next five years it is estimated that 120,000 new jobs in the hotel and casino industries will need to be filled. If it wishes to maintain the momentum of growth in Asia’s gambling capital, the government in Macau may have to relax the restrictions on foreign workers.

The authorities in Macau are also in the process of formulating legislation to bring money laundering regulations up to international standards. It is hoped that the legislation, following the guidelines recommended by the Asia Pacific Group on Money Laundering, will be approved before the end of the year. Measures already taken include more control of financial transactions, better surveillance in casinos, and a requirement that casinos only issue cheques for winnings. It is hoped that the new legislation will help stem the flow of stolen state assets transferred out of China by corrupt officials.

Macau is widely expected to overtake Las Vegas this year as the world’s biggest gaming market. A cleaner image for the city will cut some sources of revenue whilst rapid expansion will push up costs. Record growth may slow, but the gambling boom is forecast to continue. (E-05.26.05)

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