Tourists take photographs in front of the Ruins of St. Paul’s Cathedral in Macau
Macau is facing threats to its growth from China’s slowing economy and greater foreign competition, escalating the need for the world’s largest gambling hub to diversify from its casino gaming roots.
“I’d say the slowdown in the economy and the fact that now the foreign destinations might become competitors” are the biggest risks to Macau’s growth, Pansy Ho, co-chairman of MGM China Holdings Ltd (2282), said in an interview with Betty Liu on Bloomberg Television in Hong Kong.
As Chinese tourists travel more frequently and farther afield, the city could gradually lose its appeal, said Ho, who’s nicknamed “casino queen” by local media. “We’re already beginning to see that the customers coming through our doors are more demanding, they now know how to differentiate.” Read more.
