Macau Casinos to Invest $15bn Into Non-Gambling Areas
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Macau casinos will invest $15bn towards non-gambling interests over the next decade.
Six Macau casinos will invest $15bn towards non-gambling activities over the next ten years. The non gaming-related expenses will be ten times higher than gaming expenses.
Wynn, MGM, Sands China, Galaxy Entertainment, Melco Resorts, and MJM Holdings were all present at the signing of the agreements. The new agreements aim to diversify Macau's income flow away from gambling and focus on non-gaming interests. The Chinese government wants to crack down on illegal operations in the area. Macao's casinos lost billions of dollars during the recent pandemic. China’s stringent COVID policies have made it impossible for casinos to survive without any ill effects. Over 80% of Macua's cash flow comes from gaming and related activities.
