Subscribers

Casino titans in Macau join Xi's drive to reform industry

They plan to open more amenities such as convention centres & theatres, touting their credentials as good employers

Hong Kong

LEADING China's anti-corruption campaign, President Xi Jinping warned Macau last December that the world's biggest gambling hub needs to be about more than baccarat. Now, the reform drive has new champions - the casino operators.

The firms that lead the former Portuguese colony's US$44 billion a year gaming business are pledging to spend billions of dollars on opening more amenities such as convention centres and theatres, and touting their credentials as good employers.

The stakes are high as Mr Xi's reforms squeeze revenue growth to a low since the industry was liberalised in 2001. Officials set to review Macau's 35 casinos will examine how operators have diversified away from gambling...

BT is now on Telegram!

For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes