Last week Macau’s Secretary for Economy and Finance Francis Tam Pak Yuen presented his portfolio’s 2012 policy guidelines during a plenary session of the legislature. According to Tam, the government expects an average growth rate for the gaming industry of 3% over the decade following 2013, with an increase of nearly 2,000 gaming tables. Tam also said that the government was intent upon achieving a balanced and orderly development of the gaming industry and would strengthen supervision with that aim.
Until 2013 the number of gaming tables at Macau casinos will be limited to 5,500, leaving little scope for further expansion until after 2013. At the end of September the Gaming Inspection and Coordination Bureau (DICJ) reported that there are 5,379 gaming tables and 15,900 slot machines operating in Macau’s 34 casinos. The six licensed Concessionaires hold 20-year contracts and the government is now, approaching half-way through the time specified, is reviewing the development of the gaming industry so far.
Tam commented, “It is an unarguable fact that the gaming industry’s development has benefitted the whole of society … if the city’s gaming sector could not further develop this would impact Macau ’s future economic environment. Thus there must be room for the gaming sector to further develop … to maintain its vitality for the city’s development.”
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The policy address also gave confirmation of the government’s plan to grant all six licensed operators a plot of land for casino development in Cotai. For this reason, after 2013 the cap on the number of gaming tables would be raised to allow further growth of the gaming industry. Not all legislators are happy with the plans outlined by Tam. Some believe there should be a tender process for the Cotai plots to give local companies a chance. Others are concerned about the possible liberalization of sports betting and want gaming parlours removed from residential areas.
There was also a warning from Tam that government assistance with the Meetings, Incentives, Conventions and Exhibitions (MICE) industry would not be permanent and that the sector must grow and support itself in the long term. (E-11.29.11)
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