Macao casino operator welcomes govt's move to halt gaming expansion

MACAO, April 24 (Xinhua) -- SJM, a local gaming company that runs over half of Macao's casinos, Thursday expressed its support to the Macao Special Administrative Region (SAR) government's decision to curb the exploding growth in the city's gaming sector.

The SAR's Chief executive, Ho Hau Wah, made an announcement on Tuesday that the government will stop granting new gaming licenses and approving lands for new casino projects, which means the current number of six gaming operator will be maintained for a relatively long period.

"We will proactively carry out our operations in line with the government's new regulations," said So Shu Fai, director of SJM.

The company now owns 19 of the SAR's 29 casinos, and it has held the monopoly over Macao's gaming sector for decades before the SAR government opened the industry to foreign investment in 2001.

He said that the new regulations will not only provide gaming operators with precious time to build on their current market shares but ease the escalating competition in the gaming industry of Macao.