Macau gaming regulator expected to resign

Manuel Joaquim das Neves, Macau's top gaming regulator, played an important role in Macau's anti-corruption crackdown, as he has been the top regulator of the Gaming Inspection and Coordination Bureau since 1997 and has been an employee of the government since 1984. Neves recently announced that he plans to step down as the top gaming regulator before the end of November because he wanted to pay attention to his family.

Neves played a key role in developing and regulating Macau's gambling industry and was a member of the highest levels of people who contributed to liberalizing and organizing Macau's gambling industry to become the world's largest gambling hub. He was also responsible for bringing the first foreign casinos into Macau and played a key role in making the country a gambling paradise.

In a statement, Neves told a local news channel, "I have been a public servant for 31 years, 18 of which I believe is the time to relax and spend more time with my family as Director of the Game Inspection Bureau." The department has yet to announce who will replace him, and there has been no indication of who the front-runner is.

As Macau's gambling industry is in the midst of turmoil, there will be a lot of pressure on who will take the new post. Casinos have continued to see revenue decline with each month gone by, and Macau comes from the gambling industry with nearly 80% of its budget, which probably means a deficit in the government budget.

Lawrence Ho, a partner at Melco Crown Limited, which recently opened its $3.2 million casino studio city in Kotai Street, believes that the Macau government will soon begin to ease tough restrictions on the gambling industry, as Macau and its casinos cannot afford to continue to lose money as they have done for the past 18 months.

Beijing has made it clear it has no plans to ease its stance on anti-corruption and has advised Macau to change its image from a casino hub to a place that encourages tourism and education. The new commissioner will play a key role in deciding whether the rules will be relaxed or continued to be enforced.

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