David Chow Kam Fai, co-chairman and chief executive officer of casino service firm Macau Legend Development Ltd. predicts that the adjustment phase of the gaming industry will last for two more years, according to local broadcaster TDM Chinese Radio.
Mr. Chow, who is also a member of the National Committee of the Chinese People’s Political Consultative Conference (CPPCC), told reporters in Beijing yesterday that the gaming industry will depend on the traffic auxiliary facilities during the adjustment phase, which may decide whether patronage can be attracted to the city, such as the Hong Kong-Zhuhai-Macau Bridge.
Meanwhile, following the nine consecutive month-gaming revenue decline Mr. Chow perceives that it is the appropriate time for Macau to create a new market.
He also indicated that even if the city’s gaming revenue drops to MOP15 billion per month it won’t matter to the local gaming corporations as they have already reached a payback, and have enough cash and ability to finance forwards.
Regarding rumours that the Macau Government may grant one more gaming licence to a Chinese-subsidised enterprise, Mr. Chow remarked that “Many people think that such a Chinese-subsidised company refers to [mine]. But this news is not from me,” TDM Radio quoted Mr. Chow as saying.
In fact, the director of the Liaison Office of the central government in Macau, Li Gang, told reporters earlier this week that he had not received any related orders regarding the issue of one more gaming licence for Chinese companies, claiming all the news regarding the gaming industry, such as the number of licences that will be issued in the future, are all rumours prior to the interim review.


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