Casinos halted in Macau
Edmund Ho, chief executive of the Macau Special Administrative Region (MSAR), has announced that there will not be anymore gaming licences approved nor casinos built on the island for the foreseeable future.
It is thought Ho made the move after Beijing highlighted a worry that the island’s economy relied too much on the gambling industry.
Gambling in Macau has soared ever since Stanley Ho lost his monopoly on the industry in 2001 and has recently surpassed Las Vegas in terns of revenue generated.
"The number of licensed casino operators will remain the same for a period of time and the government will not approve new applications for land use filed by gaming companies," Mr Ho said in a statement.
The halt does not relate to any casino constructions presently underway and Ho did not indicate when the freeze would be lifted.
Editor, Jackpot.co.uk - 2008-04-24 11:33:24