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| Future of Macao Gaming to be outlined |
12/20/2000 Future of Macao Gaming to be outlined Macao Government to develop future Gaming Strategy in 2001 Edmund Ho Hau Wah, chief executive of the Macao Special Administrative Region (SAR), said Wednesday, December 13, that the government will work out a legal outline on the future development of gaming industry in the middle of next year. At present, the Macao Tourism and Amusement Company holds a gaming monopoly. However, the scheme is believed to include a plan to open up the gaming business. The company's franchise contract with the government expires at the end of next year. "We will not make contact with any people who are interested in participating in Macao's casino business until the legal outline is worked out," the chief executive said. "The SAR government will create an environment of fair competition which is favorable to the healthy development of gaming industry," Edmund Ho said, emphasizing that the market will be opened gradually. He explained that gaming industry has a long history in Macao and it acts as a pillar sector in the local economy. The proposal for opening the industry is based on the premise that relevant reform will not affect social stability and normal government revenue in the coming several years |
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