On Children’s Day

Paulo Coutinho

The Macau Daily Times was born 19 years ago, on Children’s Day 2007.

At the time, a new Macau was emerging. Across the reclaimed lands between Taipa and Coloane, workers were putting the finishing touches on what would soon become the Venetian Macao and the first generation of integrated resorts that would transform Cotai. The name itself — a contraction of Coloane and Taipa reportedly coined by an obscure public servant — would become synonymous with one of the most remarkable economic transformations in modern Asia.

Not long before, those five square kilometers of reclaimed land were little more than wetlands visited by migratory birds. Yet this unlikely stretch of territory was about to become the first true Las Vegas Strip outside Nevada.

The experiment worked.

Within a few years, Macau had surpassed Las Vegas in gross gaming revenue. Then it became several times larger. At its peak, it generated more than ten times the gaming revenue of its American counterpart. The tiny city rose to claim one of the highest GDP per capita figures in the world.

The wealth flowed in extraordinary quantities. Much of it came from VIP gamblers — the so-called “whales” — brought to Macau by the euphemistically named gaming promoters, or junkets. At one point, this segment accounted for as much as 80 to 90% of gaming revenues. The crowds filled the streets and casinos, but it was the high rollers who filled the coffers.

Eventually, Beijing intervened. Concerned by corruption, capital flight, and the scale of money moving across borders, the central authorities launched a sweeping anti-graft campaign that reshaped the industry. Yet while the old model was curtailed, the influence of high-end gaming never entirely disappeared. Today, analysts still estimate that premium and VIP-related segments account for a significant share of gaming revenues, even if the structures that support them have changed.

Nineteen years later, Macau finds itself at another crossroads. The city is expected to help develop Hengqin, contribute to the Greater Bay Area, diversify its economy, and build new industries capable of sustaining future generations.

These are worthy ambitions.

But on this Children’s Day, another question demands our attention.

After more two decades of unprecedented prosperity, what kind of city have we built?

Last week, Macau was confronted with the tragic and senseless death of a 10-year-old child on our streets. No amount of economic success can soften the pain of such a loss. No GDP ranking, visitor arrival record, or gaming revenue figure can compensate for a young life cut short.

The true measure of a city’s success is not the height of its towers, the size of its casinos, or the wealth accumulated in its banks. It is whether its citizens can live safely, move freely, and trust that their children will return home at the end of the day.

For 19 years, Macau has pursued growth with remarkable success. Perhaps the next chapter should be about something more difficult: building a city that is not only richer, but better.

Today, our thoughts are with the child who lost their life and with their family. On Children’s Day, there can be no more fitting reminder of what truly matters.

P.S. We thank our readers, advertisers, friends, and partners for their unwavering support. Without you, this newspaper would not exist. For 19 years, your trust and encouragement have made this journey possible.