New casino concessions but less gaming: can Macau reinvent itself?

February 14, 2022 Macau Emerging Markets

The Macau government earlier this year announced that it would grant six new casino licences, but experts say it will not be business as usual

As Beijing pushes to clean up the gaming sector and diversify the city’s economy, observers say Macau is left with no option but to transform the casino industry and tap into regional opportunities

Gone are the days when construction workers from mainland China, harbour coolies, and domestic workers would try their luck on wooden tables scattered across Macau’s narrow streets.

The contrast between the “Fantan” stalls – a Chinese game similar to roulette – which in previous centuries thrived in the city, and the 42 dazzling casinos that sprang up in the past two decades could not be greater. These opulent buildings decorated with flowery carpets, marble floors, ostentatious chandeliers, and pristine gambling tables have brought billions to a city that was once a sleepy fishing village.

But its overreliance on casinos is more than ever being put into question, and Beijing wants to see major changes taking place.