Macau Has The Opportunity To Reform The Gambling Industry
According to representatives of the international monetary fund, macau can use the process of restoring the concesion of existing operators to reform the business model of a special administrative area.
The imf believees that this kind of change should be supported by improving in the fields of attracting tourist flows and infrastructure.
«Since all six current licenses for the right to engage in gambling activities in macau expire in 2020 and 2022, official authorities have the opportunity to develop new rules that woud assume expansion of the mass-segment», – speaks in the imf reort.
International monetary fund reported that to attract more tourists as part of the development of a mass market of gambling, as well as non-chairs of integrated resorts, it is necessary to develop infrastructure development plans. Alternative cultural recreation programs are also required: exhibitions and conferences. A change must also be subject to a non-game segment, namely through the construction of additional hotels, restaurants and shops.
«All this is necessary that the integrated resorts can be comfortable for family holidays», – believe in the imf.
In addition, the organization’s specialists noted that the dependence of the economy of a special administrative district focused on tourism and gambling, from discretionary expenses of visitors from mainland china may be extremely negatively affected by macau.
The organization urges to bind the exchange rate of macau – pataki – to hong kong dollar.
The document also suggests that the vulnerability of macau from the economic, financial and political situation in the mainland china is destructive for a special administrative area. However, the imf notes a favorable trend of the overall reduction of risks for macau.
As potential threats, the financial institution calls the us trading war and china, the tightening of financial conditions, an unexpected increase in interest rates and increased competition at the regional and global levels of the igor industry.
Recall that the authorities have begun implementation of the macao economy unification with hong kong and guangdong province. This step is hello to the fact that both special administrative areas (sar) will become part of «district of big gulf» (gba).