Macao Pins Hope on Opener Gambling, Tourism

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Last updated at: (Beijing Time) Thursday, January 17, 2002

Macao Pins Hope on Opener Gambling, Tourism

The opening of gambling industry will inject new vitality to the expansion of tourism business and other sectors in the Macao Special Administrative Region (SAR), a high official said Thursday.

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The opening of gambling industry will inject new vitality to the expansion of tourism business and other sectors in the Macao Special Administrative Region (SAR), a high official said Thursday.

The SAR government has described the gambling and tourism business as the "dragon head" of Macao's economy, according to Francis Tam Pak Yuen, secretary for economy and finance.

Tam told the press that the government is mooting over the qualification of 18 companies who are bidding for the three new licenses of casinos in Macao.

The move will put an end to the 40-year monopoly of the Macao Tourism and Amusement Company (STDM) in the city's gambling sector, as part of a broader effort of the government to upgrade casino management and spur economy.

Tam said that the efforts will create new market environment and tourist facilities so as to draw more visitors from different regions and different communities.

The government will be "satisfied" if the Hong Kong visitors continue to make up about half of the total tourist arrivals in Macao, the official said.

Macao received a record of more than ten million visitors in 2001, mostly because of the booming influx of inland tourists. In casinos, Taiwan people account for the majority.

The Tender Committee for Gaming Concession, headed by Tam, met with nine of the 18 bidders to know more details about their intention and capacity Tuesday.

The authorities have noted that none of the bidders are Chinese- funded companies.

The Gaming Industrial Regime, which was passed by the Legislative Assembly in August, stipulates that casinos should contribute to tourism and economic development and social stability in Macao, with tariffs making up 35 percent of their gross revenues.

And casino managers and operators should be qualified and honest and responsible for their doing, the law says.

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