Casinos.co.uk: Casino News Archive
Sunday 11th May 2008
Macau Set To Block New Gaming Developments
Recent news that the Macau authorities were looking to block new gambling developments have now been confirmed leaving many of the main players in the industry looking elsewhere for their future expansion. In only a few short years Macau has taken over from Las Vegas as the centre of the casino industry and while many had seen more expansion in the short to medium term, the authorities think differently.
Interestingly, when looking at the bigger picture the move is something of a rarity for an area which is blossoming and seeing record income in the form of taxes and tourist spend – a sensible approach. If expansion had continued unchecked there is a chance that the area would have become over run with casino developments, increasing competition and reducing margins for those currently operating in the Chinese enclave.
While this ban on new gaming developments will see the value of existing developments and gaming licences increase in the area, many believe that this is only a short term situation. As and when the world economy starts to pick up again, and corporate finance markets return to normal, we should see a return to expansion in the area, albeit probably on a lesser scale than the last few years have seen.
Source:gambling_CMS_tmark938
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