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|Wednesday, December 13, 2000, updated at 19:57(GMT+8)|
Macao SAR to Outline Gaming Strategy in Mid-2001Edmund 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.
The outline is believed to include a scheme to open up the gaming business which is monopolized by the Macao Tourism and Amusement Company. 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, making an emphasis that the opening will follow gradual steps.
He explained that gaming industry has a long history in Macao and it acts as a pillar sector in the local economy. The premise of opening the industry is that relevant reform will not affect social stability and normal government revenue in the coming several years.
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