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Industry Cheers Chinese Government’s Move to Regulate Macau |
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Friday, 25 April 2008 |
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The global gambling industry met with cheer the news that the Chinese government has declared a moratorium on licensed casino operators in the territory. Experts say that the halt in land allocations to develop new casinos, as well as the move to restrict the expansion of existing ones will “stop unfettered competition”, as one executive put it. In a city with a population of just 500,000, Macau has expanded remarkably in recent years. Gambling revenue in the city totaled more than Las Vegas and Atlantic City combined, with 93% of the gamblers coming in from the Chinese mainland. “This move reflects the Macao government’s concerns – and probably also Beijing’s – about the side-effects of the gambling boom,” says a Chinese legislator. “The gaming industry’s explosive growth has already exceeded the capacity of Macau’s limited resources.”
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