Macau Government plans casino freeze after 2017

Macau’s government said it won’t allow any more casinos to be built in the territory after 2017, when the current round of building projects on Cotai is scheduled for completion.

Secretary for Economy and Finance Francis Tam Pak Yuen said he would impose a moratorium for a period of “seven to eight years.” He also said he would require operators to take on higher social responsibility, but didn’t elaborate.

There are seven resorts currently under construction on a strip of reclaimed land in Macau, with the first of the multi-billion dollar projects due to open their doors next year.

Macau generated a record $45.2 billion in gross gambling revenue in 2013, with Deutsche Bank predicting that may double by 2021 once the new resorts are fully operational.

 

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