Macau Casinos Pledge to Invest $15 Billion into the Region’s Development

Macau is the Asian most popular region for gambling. The administrative region’s casinos’ licenses have just been extended. However, to get this done, six leading operators have pledged to invest $14.8 billion in non-gambling related activities. These operators manage the region’s 41 casinos. The biggest part of the money will be used for developing non-gaming projects and exploring overseas markets. The new licenses will be valid from January 1, 2023, for ten years.

Sands China operator will invest the biggest sum — around $3.5 billion. The company will contribute to the development of the conventions and exhibitions sector. Galaxy Entertainment and Melco Resorts will build new theme parks.

Given that previous attempts by Macau to develop have failed, the government hopes that thanks to such investments, the region’s gaming and tourism sectors will move to another level.