Secretary and regulator head meet gaming operators

The Secretary for Economy and Finance, Leong Vai Tac, has urged all sectors of civil society to contribute to existing initiatives alongside the government’s efforts to transform and diversify the SAR’s economy.
The Secretary drew comparisons between the transitional challenges currently facing the Macau economy and surviving a war of attrition in which one or more sides are gradually worn down. Leong called for society to view the transition as if they were “fighting a prolonged war.”
Leong made the remarks during an unannounced meeting with representatives from Macau’s six gaming operators. On Tuesday night, the policy secretary’s office released a statement about the meeting without revealing its time and location.
According to the statement, Leong said that the “orderly and healthy development of the gaming industry” would benefit Macau in the transition and diversification of its economy.
He also thanked the six gaming enterprises for adhering to government policies and for promoting the development of non-gaming attractions.
The newly-appointed Gaming Inspection and Co-ordination Bureau Director, Paulo Martins Chan, was also present at the meeting. A statement revealed that, during the meeting, Chan made his first official contact with representatives from the six operators. Chan noted that the gaming sector is a prominent pillar of Macau, adding that there is a partnership between the government and the gaming operators. He also explained that the adjustment of the sector will create a sustainable future that is both “sophisticated and robust.”
Chan added that the government would continue to improve the laws and regulations pertaining to the gaming industry, pledging to ensure that the gaming sector operated with “honesty and regulation.”  In return, the six operators pledged to closely co-operate with the gaming inspectorate in developing the industry in an “orderly and sound” fashion.
According to the statement, the representatives of the six gaming enterprises said the gaming industries in neighboring regions are developing rapidly and that Macau is facing fierce competition. They also said that it is important to keep Macau’s gaming industry internationally competitive.