Renowned as Asia’s success story in the gambling arena, last Friday Macau was named one of 17 cultural sites to be inscribed on UNESCO’s World Heritage List. At a meeting held in Durban, South Africa, the historic centre of Macau was described as providing unique testimony to the meeting of aesthetic, cultural, architectural and technological influences from East and West. Under Portuguese administration from the mid 1500s until 1999, it is said that the site bears testimony to one of the earliest and longest-lasting encounters between China and the West based on the vibrancy of international trade.

The vibrancy of an international trade fair is the reason that the Australasian Gaming Machine Manufacturers Association (AGMMA) has chosen Macau to host the 2006 Asian Gaming Expo on 13-14 June. The choice was made because of the overwhelming demand from exhibitors and participants at this year’s event, where exhibition space originally booked was doubled but still could not give a place to all the companies wishing to show their products in Macau. It had been intended that the Expo would return to the city in 2007 and be held elsewhere in Asia next year.

Earlier this week K Wah Construction Materials of Hong Kong won unanimous shareholder approval to buy Galaxy Casino. Galaxy owns the Waldo Casino in Macau and will build three new casinos there over the next year. Galaxy StarWorld is due to open around the middle of 2006 and two City Clubs are scheduled for early 2007. There is also a huge casino resort on the Cotai Strip which is expected to be completed in the first quarter of 2008.

Income from direct gaming tax in Macau has risen just under 25% for the year to June 2005. The Finance Service Bureau has revealed that payments of US$1.01 billion were made for the first six months of this year, some 77% of the government’s total income for the period. At present there are 17 casinos in Macau and they pay 35% of gross revenues as direct tax.

Macau is repeatedly hitting the headlines this year. So much construction has brought shortages of building workers who are now being sought in Hong Kong. So many new casinos has brought shortages of trained staff and delays to expansion of existing casinos. Slated to soon overtake Las Vegas on gaming revenue, Macau is fast becoming the world’s top gambling destination as well as claiming its place on the World Heritage list. (E-07.20.05)

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