Macau knows what to do in these less exciting times in terms of gaming growth, explains Paulo Martins Chan when we sit down in his office for an exclusive interview. The new 53-year old Director of the Gaming and Inspection Co-ordination Bureau (DICJ) explains that now is the time to take advantage of the slower pace to “prepare ourselves”. It’s time to revise the law, better regulate the environment of the gaming industry and “prepare for the next boom”, he tells MacauBusiness TV – the newest online video news portal – and to the publications under the business news group that this newspaper is also part. Noting he was “very surprised” when he received the invitation to replace former chief regulator Manuel Joaquim das Neves, Paulo Martins Chan sees a “lot of challenges” ahead and a “completely different world” to the one he was accustomed to, says the former Assistant Prosecutor. Mr. Chan is not worried about the future of gaming here nor about the regional competition. After all, even with the slowdown in the VIP take and overall revenues results are far from being bad – just not as good as when the city was enjoying double-digit growth. Nevertheless, opportunities can arise when “people work harder” to overcome difficulties. And DICJ has its own target, he tells our multimedia group. New bills are on the way, especially one that will further regulate junket activity, imposing new rules. “We’re looking for stronger junkets. Financially. And also some roots in Macau, which means that a certain percentage of shares should belong to Macau residents”. DICJ restructuring and changes in slot machine standards are also in the works, he comments. For the TV interview, go today to www.macaubusiness.com. The extensive interview will be available in the September editions of Macau Business and Business Intelligence.
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