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|Wednesday, August 23, 2000, updated at 22:08(GMT+8)|
Macao SAR to Ensure Better Operation of Gaming IndustryThe Macao Special Administrative Region (SAR) government has decided to invite a trans-national consulting company to act as an advisor in working out future strategies on local gaming industry, a senior official said at a press conference Wednesday.
Francis Tam Pak Un, secretary for economy and finance of the Macao SAR government, said that the company of Arthur Andersen will work in three stages. In the initial stage, it will spend four weeks submitting a report based on studying the operation of gaming industry in the United States, Britain and Australia.
Following that, the company will probe into the present conditions of Macao's gaming industry and compare the casinos in Macao with others around the world.
In the final stage, the company is required to put forward detailed and concrete suggestions on the strategies for Macao's gaming industry in the future, such as relevant licensing, taxation and supervision.
The company is chosen to be an advisor to the SAR government because it is regarded as an independent company with no bias, the official said, noting that "the suggestions will be taken as a major reference (by the Macao SAR government) but will not be carried out 100 percent."
"The government will certainly listen to the opinions of people from various social sectors and future policies will conform to the interests of the public," he said.
Data provided by the SAR government show that Arthur Andersen, established in 1913, is a global consulting firm in assurance, consulting, corporate finance and tax. It has more than 78,000 personnel in 84 countries and territories. Its revenue exceeded 7 billion U.S. dollars in 1999.
In particular, the company is known as a premier service leader in providing strategic advice to gaming industry. It currently serves as principal accountants, systems and strategic consultants or tax advisors to public and private companies that operate more than 100 casinos around the world.
The Macao Tourism and Amusement Company (STDM) has been running franchise casino business in Macao. Its monopoly contract with the government expires at the end of next year.
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