Macau, the world’s biggest gambling hub, is facing pressure to diversify its economy and strengthen national security. Xia Baolong, the director of China’s Hong Kong and Macau Affairs Office, has laid out six requirements for Macau to follow, including implementing the “one country, two systems” principle, strengthening national pride, and improving overall governance.
Casino operators such as Sands China, Wynn Macau, Galaxy Entertainment, SJM Holdings, Melco Resorts and MGM China have been mandated to invest more in non-gaming amenities to diversify away from gambling. They have committed to investing a combined $15 billion in the coming decade, 90% of which must be spent on non-gaming.
Macau is also expected to “fully, accurately and unswervingly implement the new concepts, new ideas and new strategies put forward by President Xi Jinping.” This is part of the Chinese government’s efforts to ensure Macau’s economic and social stability.