Macau plans curbs on casino industry growth
Source: Agencies |
October 14, 2009, Wednesday
|
Print Edition
Print Edition
MACAU may curb the growth of its casino industry with limits on the number of gambling tables and other restrictions, the government said.
The city's government met on Monday with executives of six casino operators, including the local units of Las Vegas Sands and Wynn Resorts, to discuss a review of the industry, according to a government statement.
The companies all agreed the city's gambling sector shouldn't expand unlimitedly, the statement said.
The government said it would examine the local industry's scale, including the number of gambling tables, as well as a move to bar slot machines from residential areas and raise the age limit to enter casinos from 18 to 21.
Macau, the only place in China where gambling is legal, has boomed in recent years, surpassing the Las Vegas Strip as the world's more lucrative gambling market.
Growth fell with the onset of the economic crisis, but recovered thanks to a robust Chinese economy and the relaxing of visa restrictions on Chinese mainland tourists.
Macau's growth has helped provide a cushion for Las Vegas Sands and Wynn at a time when the US gambling market is down sharply.
The city's government met on Monday with executives of six casino operators, including the local units of Las Vegas Sands and Wynn Resorts, to discuss a review of the industry, according to a government statement.
The companies all agreed the city's gambling sector shouldn't expand unlimitedly, the statement said.
The government said it would examine the local industry's scale, including the number of gambling tables, as well as a move to bar slot machines from residential areas and raise the age limit to enter casinos from 18 to 21.
Macau, the only place in China where gambling is legal, has boomed in recent years, surpassing the Las Vegas Strip as the world's more lucrative gambling market.
Growth fell with the onset of the economic crisis, but recovered thanks to a robust Chinese economy and the relaxing of visa restrictions on Chinese mainland tourists.
Macau's growth has helped provide a cushion for Las Vegas Sands and Wynn at a time when the US gambling market is down sharply.
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