The six licensed casino operators in Macao Monday voiced their support for local government's intention to further regulate the development of local gaming industry, with the aim to prevent its over-expansion.

The operators agreed that the overall size of the gaming market “cannot be expanded forever without any restriction", and, based on existing foundation, "we'll explore ways and means as to how we should expand the business", said Ambrose So Shu Fai, chief executive officer of SJM Holding Ltd, which is one of the operators.

So and executive representatives from the other five operators, including Las Vegas Sands Corp., Wynn Resorts Ltd., Melco Crown Entertainment Ltd., Galaxy Entertainment Group Ltd., and MGM Grand Paradise Ltd., attended a meeting today with officials from the Macao Special Administrative Region (SAR) government, discussing issues concerning the industry.

He explained that the development of casino industry has not only affected other industries in Macao, but twisted local labor market. It is reasonable and logical for the government and the licensed operators to think about the overall size of the market.

Being tired of "destructive competition", Macao's six licensed gaming operators has signed an agreement to establish an industry association in July this year.

However, "we have not reached any consensus yet", and the government welcomed us to put forward proposals concerning the matter, So said.

With the alleged aim to check the spiraling growth of the gaming industry, the SAR's outgoing Chief Executive Ho Hau Wah last year announced the government's decision to freeze the development of local gaming industry indefinitely, maintaining the current size of six licensed operators and barring these operators from applying for more lands with the purpose for further development.

The government also started reviewing its gaming policy and explore new direction for the industry's development, but the impact of financial crisis, which considerably affected local gaming market, interrupted the reviewing process, according to TamPak Yuen, the SAR government's secretary for economy and finance, who also attended Monday's meeting.

Source: english.cctv.com

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