Secretary for Economy and Finance Francis Tam Pak Yuen said yesterday that the government is not worried about the prospects of new jurisdictions in Asia opening casinos. Mr Tam said there is still further room for the regional gaming industry to expand. He added that he believes it is possible for Macau to sustain the actual gross gaming revenue levels and to ensure a sustainable development for the casino industry in the future, even with more regional competition. Earlier this month, residents of the offshore island group of Matsu voted in favour of opening Taiwan’s first legal casino. Japan too is considering legalizing casino gambling, while the Philippines, South Korea and Russia are on the move to expand their respective casino industries. Mr Tam noted that the Macau government had already previously introduced measures to actually cool down the rapid growth of the gaming sector here, namely a cap on the number of live gaming tables. Mr Tam stressed Macau is not aiming to compete with other jurisdictions to be ‘the centre of gambling’; instead, the city is eyeing to become more competitive by transforming itself into a world-class leisure and entertainment hub, in which casinos are just one component of the offering.
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