New Chief Executive Vows To Lessen Gambling Reliance In Macau

Macau has perfected the casino gambling industry to the point where they are the new gambling capital of the world. They have surpassed both Atlantic City, and former high roller destination, Las Vegas.

Now, however, Macau is entering a new era. They will have a new chief executive for the first time in twenty years. Fernando Chui has made it clear that while he wants to slow Macau's reliance on casino gambling, he will continue to push for growth in the industry.

"His biggest challenge is, of course, to improve the economy," said Professor Joseph Cheng from City University of Hong Kong, "To maintain healthy growth for the casino industry, as well as to diversify the economy so much so that it will not depend too much on the gambling industry."

Chui will have a tough act to follow. Outgoing Chief Executive Edmund Ho has held the position since 1999, and has overseen a monumental growth spurt in the gaming industry. Once Stanley Ho's monopoly on gaming in the region ended, Macau thrived with their casino market.

"Edmund Ho inherited a rather difficult situation," said Cheng, "The economy was in very bad shape, law and order situation was very bad, and people were expecting changes....he was able to revive the casino industry and the economy improved, so people on the whole were happy."

July 24, 2009
Posted By April Gardner
Staff Editor, CasinoGamblingWeb.com
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