Macau Appoints New Gambling Chief

Published: Sunday, July 26, 2009 Online-Casinos.com

Macau's ex-culture minister has been chosen as the new head of the Chinese gambling destination. This comes at a time when the gambling industry in Macau is struggling with the economic slowdown and the tighter restrictions placed on mainland Chinese visitors acquiring visas to go there.

Fernando Chui was the only candidate for chief executive officer in Macau. This is the first leadership change since the Portuguese colony reverted to Chinese rule ten years ago. A 300-member panel loyal to Beijing appointed Chui, who is 52 years old, he is expected to be a defining figure in shaping the future of Macau's casino industry. With most of the gambling rules firmly in place Chui is not expected to bring about significant changes.

Chui commented, "We will mainly follow these policies to allow Macau's gambling sector to develop in a healthy manner and hopefully it will hold an edge in Asia," "The policy for the next few years is basically set. "Everyone has to work extra hard in this competition to maintain the outstanding results that we have achieved in the gambling sector in the past few years," he concluded.

Edmund Ho, the former head of gaming operations in Macau, put a lid on expansion of the gambling offerings in the city announcing before he left office that no new casino licences or additions to existing casinos will be allowed in the near future. Stanley Ho, of SJM Holdings, Macau's largest casino operator said that he thinks Chui will bring better communication to the six casino operators and will call for more regulation of the industry. There is some hope that Beijing will lift the travel restrictions for mainland visitors which represents the biggest portion of Macau's customer base.

"He will ensure that there should not be any fighting among the six of us and we should work together for the good of the citizens, for the good of Macau," Mr. Ho said.

Chu Kin, president of Macau's electoral affairs committee said that Chui will take office in December and serve a five year term after he is formally approved by Beijing.