The government of Macau approved a request made by a Casino Operator to support the opening of a new hotel project which would feature two new casinos. Thus, 150 new gaming tables were offered in order to encourage the efficiency of the project itself.
Lionel Leong, Macau’s Secretary for Economy and Finance, stated:
“The new hotel project set to open allows participation by Macau small and medium businesses, and helps enrich the city’s tourism elements (…) the government is very supportive of this.”
While the tourism industry makes for a resourceful target, the casino operator is expected to record a 0.2% rise due to the new gaming tables. While the market is on the rise for most other companies in Hong Kong trading, the casino operator proposing the new gambling tables is also benefiting from an increase in market value. The project is scheduled to start on May 27th.
However, the casino operator also asked for 444 slot machines. The request has received no feedback yet. With the decision of supplying the two casinos with 150 gaming tables, the government would not allow the operator to own 400 new table games for both casinos due to the slow expansion process of the gaming sector.
Still, thanks to the government supportive attitude, Macau’s gambling industry is ready to hit the jackpot once the project concludes.