Macao Casino Diversification Promotion

Pansy Ho Chiu King, co-chairman of Macau-based gaming operator MGM China Holdings Ltd., says Macau casino operators are "the most eager stakeholders" in pushing for economic diversification in the city.

Ho pointed out several reasons why economic diversification could help grow a profitable casino mass market segment by attracting new types of visitors to Macau.

The other is to help the city stay competitive in Asia, as more jurisdictions are considering opening casinos. "In order to stay competitive in Macau, we have to stay ahead and have influence and an important mass," said Ho.

She said any attempt to promote economic diversification should be based on industries related to gaming. "There is still no other alternative to match gaming revenue with the opportunities offered by casino companies," she said.

"Casinos are an integral part of diversification," Ho added.

She participated as keynote speaker at G2E Asia 2014 today.

According to official figures, the government relied on this sector for 81.5 percent of its revenue, while gaming revenue accounted for 87 percent of the city's gross domestic product in 2013. Several international organizations have repeatedly said that the city is too dependent on casino-related activities.

Macao's government has promised to promote economic diversification, but it has yet to achieve any significant results.

Ho said Macau's economy remains vulnerable because it is based on a single industry supplied by mainland China, which is one major market source. But she said efforts to push for economic diversification have already paid off, with an impressive increase in employment in Macau's non-gaming sector over the past 15 years.

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