Macau halts gaming

Macao, the world's biggest gaming hub, commented yesterday that it would rein in the booming industry by halting new licences and freezing land allocations to build up more land casinos.

Following central government's directives on the casino gaming industry, it is time "to take these policy measures," Ho said to Macao's legislators. "We must continue to preserve the positive trend of our economic development and solve problems that may have arisen as a result ... to ensure long-term social stability." Many international players are still looking to get involved in the gaming Mecca of Macau are Virgin Group, Playboy Enterprises Inc., with the grand opening of the Playboy mansion next year, and Harrah's Entertainment of Vegas.

Casino projects already in progress and those already with a government approval would not be hit, a government official commented. Current licenses and sub-licenses let six firms run 29 casinos here. We expect gaming firms to merge.

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