Macau Legend CEO says casino industry needs more competition

Macau Legend Development’s CEO David Chow Kam Fai said the Macau government should make the gambling industry accessible to new investors to make it more competitive and not just serve the interests of the current six operators.

Speaking on the sidelines of his Harborview Hotel opening, Chow said the scrutiny over the casino concessions right before the renewal process should be a key factor that leads to providing local companies with more gaming licenses, the Casino News Daily reported.

Mr. Chow, whose company operates the Babylon and Pharaoh’s Palace casinos, said “the government should encourage the development of local businesses.

The expiration dates for the six gambling concessionaires’ licenses are set for 2020 and 2022, respectively. Lionel Leong Vai Tac, Secretary for Economy and Finance of Macau, said the government will likely conduct a “mid-term review” of the gaming industry this year.

 

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