Wednesday, March 20, 2019
Martin Hennecke

Macau set to reveal hand on licenses
Macau will soon announce details about new gambling licenses, since the current ones will expire between 2020 to 2022, said Gaming Inspection and Co-ordination Bureau (DICJ) Director Paulo Martins Chan.

Gaming revenues saw a 20 percent increase in the first five months this year, better than the market expectations, said Chan, adding that the gaming industry would remain steady this year.

Commenting on the news that 96-year-old tycoon Stanley Ho Hung-sun - one of Asia's richest men and Macau gambling pioneer - will retire as chairman of SJM Holdings (0880) in June, Chan said that any change of personnel should get the approval of the DICJ.

Meanwhile, Wynn Macau (1128) chairman Allan Zeman said that Macau's future lies in non-gaming business, adding that the company is working on two plots of land near Wynn Palace, to develop non-gaming facilities, although designs are still under discussion.

Citing resorts in Las Vegas as an example, Zeman said that about 60 percent of the resort city's revenues are generated from non-gaming business, which means that Macau could also attract not just gamblers but also overseas visitors.

In addition, non-gaming businesses such as exhibitions and museums could offer more job opportunities, said Zeman, adding that any future developments would driven by technology.

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