Macau Economic Association’s Chang says industry heyday over

The best years of Macau’s gambling industry are over as China’s policies affect profits and player levels and the likelihood of the government allowing more gaming licenses “very low,” said the Macau Economic Association’s vice president.

Jack Chang Chak said China’s strategy to focus more on sustainable economic growth rather than boosting gross domestic product will mute the strong growth the casino industry has enjoyed, he told local newspaper Plataforma. "The era of high economic growth [is finished]."

Chang said the industry will face the challenge of attracting younger generations who are becoming less interested in gambling, along with heightened competition from southeast Asian countries developing their gaming sectors.

Chang also said the prospect of China authorizing more gaming areas in the country in addition to Macau would be unlikely due to the bad publicity surrounding the industry.

"People do not look only at the positive side of the game, but also to the negative aspects here and there various social problems that come from this industry, such as criminal or corrupt activities," he said.

 

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