Success of Macau’s gambling empire not considered sufficient for current casino heads, as they look to succeed in other areas.
Currently, Macau is ranked among many players as the greatest gambling destination in Asia, if not the world. However, despite enjoying enviable success with the gaming industry, gambling news indicate that Macau is trying to look at other possibilities of making money.
A meeting will be held to address this concern at the Global Gaming Expo Asia, commonly known as G2E Asia, which started on Tuesday at the Venetian Macao. Since it is held merely once a year, the event is hailed as the greatest and most important gaming meeting in the Asian gambling market.
Pansy Ho, co-chairman and executive director of MGM China, questioned whether maintaining a strong grip on the gaming industry is enough. “Just as Hong Kong has positioned itself as a top global business hub, Macau is known as the world’s top-class gaming center, but is this enough?”
Premium mass the way to go for the future
Additionally, Ho also commented on the current market monopolization. “Game operators may, of course, be disinclined to invest in nongaming sectors in short-term perspectives. In the long term, however, all of us are stakeholders in diversification.”
Although he VIP clients are credited with bringing in serious amounts of revenue, it is the “premium mass“ that creates continued success. Tim Craighead, director of Asian Research and senior gaming analyst at Bloomberg Industries, stated “VIPs drive the headlines, but it is the premium mass that drives the actual profits.”
Macau gambling laws have always maintained a forthcoming policy towards casinos and gambling institutions, as they legalized gambling mid-19th century.