Racing to find a fix for Macau malaise?

The creation of a global sports brand based around horse and greyhound racing as part of a vision to promote Macau as a World Centre for Tourism and Leisure is likely to remain a pipedream without significant investment and de-regulation, insiders say. As gaming revenue continues to fall in Macau many experts have called for the gambling mecca to let go of its reliance on casino games and diversify into tourism, potentially with an emphasis on sporting or cultural activities. At a recent conference Zhang Bo, Professor and Doctoral Supervisor, School of Economics Peking University, spoke about Macau’s advantages, which include its geographic location, its strong government finances, its unique culture and the return of overseas Chinese. “The development of Macau relies on getting rid of its over development on gaming,” he told the session. He pointed to several possible industries that may be “suitable” for development, including building up the sports...

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