Macau’s casino concessionaires urged to invest in non-gaming activities

To enhance the tourism experience in Macau, casino concessionaires are being pushed to invest billions in non-gaming ventures and draw in more foreign patrons.

The COO for gaming and hospitality of SJM Resorts, Frank McFadden, emphasized the need for a “visitor experience ecosystem” that includes a wide range of stakeholders.

The government mandates that casino operators increase the amount of foreign customers their resorts in Macau serve under the terms of the current gaming concessions.

Over the course of the 10-year licensing term, the six casino concessionaires have committed to spending MOP118.8 billion ($14.9 billion), of which about 91.5% will go into non-gaming developments.

The executives of MGM China, Sands China, Wynn Macau, and Galaxy Entertainment underscored their endeavors to broaden their offerings and adjust to novel market patterns. These trends include drawing in younger, affluent patrons and focusing on non-gaming aspects to increase foot traffic and attendance.

The operators embrace the government’s initiatives to broaden Macau’s economic base. By offering a variety of experiences, operators are changing their strategies to cater to a younger demographic and families in an effort to draw in new customers and support Macau’s tourism growth. Executives stressed that in order to fully exploit each operator’s skills, investment plans should not overlap.

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Original story by: GGRAsia