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Tuesday 20 December 2022

Meet the warmer, family friendly Macao


What Beijing wants, Beijing gets.

The Chinese Government is very keen for Macao to diversify away from gambling and attract more family groups as tourists.

This means six gaming firms who secured new licenses for their Macao casino resorts will pay a significant price: pledged to spend billions on non-gaming facilities to keep the authorities happy.

The casino firms will invest about $15 billion in non-gaming as part of new long term contracts, Reuters reported.

The companies are: Sands China, Wynn Macau, Galaxy, MGM China, Melco and SJM Holdings.

The new contracts are effective from January 1, 2023.

The Chinese Government has - over the past few years - made it clear it wants more family friendly options and a cut on reliance on gambling tax revenues.

Macao is the world's biggest gambling hub and home to several of the grandest casino resorts on the planet.

Macao's leader Ho Iat Seng and officials including the city's finance and economy secretary presided over the signing at Macau's Government House together with top executives of the casino companies.

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