Macau’s challenge: Do policy-driven changes make for a successful market?

  At this year’s Macau Gaming Show, experts were called upon to ponder whether Macau, the world’s largest gambling hub, can follow the example of Las Vegas and transform itself into an entertainment capital for the mass market. Views varied, but the one common thread was that it was going to be a long and painful transition. While Las Vegas revenue crumbled over a period of years following the financial crash of 2007, the Macau market has fallen off a cliff in little over a year largely as a result of a government policy decision in neighbouring China. That leaves the market with a dilemma. How to change and adapt to a “new normal” when you are not necessarily responding to the changing demands of the market, or customer preferences. The biggest source of visitor arrivals is still mainland China and the proximity to the world’s second-largest economy is still seen as...

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