Leading Candidate to Take over Macau Government Throws Shade on Gambling Industry
Sam Hou Fai, the former Chief Justice of Macau's Court of Final Appeal, has made a decisive statement about the city's gambling industry. His recent remarks at a press conference, where he also announced his aspirations to be Macau's next chief executive, highlighted the "very large, negative impact" that the gambling sector has had on the local society, according to the South China Morning Post.
The Grand Lisbao casino resort in Macau (center) surrounded by other casinos at night. (Source: The Macao News)
LISTEN TO THIS ARTICLE:Sam's comments come at a time when Macau is undergoing significant changes, with the government actively working to diversify the economy beyond its traditional reliance on gambling. His critique of the gambling industry's development as "disorderly" and "wildly expanded" underscores the challenges faced by Macau in balancing economic growth with social welfare.
Related: Sole Contender Emerges as Possible Successor to Take Over Macau's LeadershipThe former judge's observations about the industry's strain on Macau's resources and its influence on the youth's career choices have sparked a conversation about the future direction of the city's economy. This discourse is particularly relevant as the current administration pushes forward with its "1 plus 4" framework, aimed at bolstering emerging sectors such as traditional Chinese medicine, financial technology, high technology, and event production, all orbiting around the central axis of tourism and leisure.
The strategic goal of this diversification effort is to have non-gambling activities contribute to 60% of Macau's gross domestic product. Achieving this milestone last year was significant, although it coincided with a period when the casino industry was still recovering from the pandemic's effects. With expectations of a stronger performance from the gambling sector in 2024, the pressure is on to maintain the momentum of economic diversification while managing the contributions from the casinos.
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Aligning with Mainland China
Sam announced his desire to run for office after Macau's current chief executive, Ho Iat Seng, announced he wouldn't seek a second term. Projecting his stance on gambling at the same time he announced his eligibility could be an attempt to shore up support from mainland China and its government.
While Sam has yet to unveil his complete election platform, his preliminary statements also suggest a vision that includes setting more ambitious economic objectives for Macau. His emphasis on strengthening Macau's connections with Portuguese-speaking countries and Southeast Asia indicates a proactive approach to international relations and economic diplomacy. These policy directions could play a crucial role in reshaping Macau's economic landscape and its position in the global market.
The upcoming elections in Macau, to be held in October, are poised to be a turning point, with the potential for significant shifts in policy and governance. The debate over the role of the gambling industry and the path toward a diversified economy continues to intensify. Even though Macau's six casino concessionaires only recently received their renewals, the government's plans for the city could put them further down the economic food chain.
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