Restructuring in the making

The gaming law revision is finally in motion with tighter rules and supervision for operators and junkets, as expected. However, some proposed measures in the consultation paper are raising eyebrows among industry insiders, who are calling for clarification. The new model points to increased oversight, national and economic security interests, a more people-oriented approach and a definite push for diversification

Historians may regard the past month as a watershed in the restructuring of the SAR’s economy, which is to take shape in the years to come.

On September 5, the Communist Party of China Central Committee and the State Council issued the much-expected Master Plan of the Development of the Guangdong-Macao In-depth Cooperation Zone in Hengqin. The blueprint sets ambitious targets to accomplish a new model of regional cooperation and to promote the diversification of Macau’s economy. Direct references to the gaming industry were unsurprisingly conspicuously absent from the document; however, as the goal for 2035 is that “promoting Macau’s adequate economic diversification will basically be realized”, it seemed clear to many observers that the Hengqin plan is aimed to pushing Macau effectively and finally away from too much reliance on the casino industry.

Source: https://www.macaubusiness.com/restructuring-in-the-making/?__cf_chl_managed_tk__=pmd__W41uDTKDEnhRi03W2SivxlLjKqV2u1brYIBfQB2.I0-1633940255-0-gqNtZGzNAzujcnBszRWl