Business Diversification: The Reality of Macau
Sands China is a subsidiary of an American corporation and is one of the gambling operators in Macau (an administrative region of China). Its CEO recently said that the days when the gambling industry could rely solely on games are over.
Wilfred Wong's speech took place at one of the business events organized in Macau by the British Chamber of Commerce. In the speech, it was reported that one of the gambling operators operating in Macau (there are six operators in the region) has already begun moving in the direction that the Chinese government wants to see. It is about diversification, which is necessary for the future successful development of the entertainment industry in Macau.
In particular, Mr. Wong stated that it is impossible to rely only on the organization and provision of services to gambling gamers. In addition, the representative of the gambling industry recalled that all Macau operators recently announced that they are going to invest at least 120 billion patacas (more than 1 trillion rubles) in the region in the next decade. At the same time, the main amount will be directed to the comprehensive development of so-called "non-gaming projects", which should attract even more tourists. In addition, the representative of Sands China confidently stated that his company will be one of the active participants in the investment, which will help turn Macau into a world-class recreation and tourism center.
Today, one of the most pressing issues in the region is the number and quality of hotel and inn rooms. For example, Mr. Wong said that Singapore has over 60,000 rooms, while Macau has only about 40,000. According to the company's executive director, the Deep Cooperation Zone needs to be significantly improved in the near future. This is important because events are expected to be held there, including international ones. In addition, one of the incentives for the industry's growth is the launch of the railway to Zhuhai, as well as the opening of the longest bridge in the world, Hong Kong-Zhuhai-Macau, with a length of 55 km.
