Macau’s second chief executive Fernando Chui Sai-on has set a new tone during his first six months in office. The present chief executive has adopted a much more low-key, guarded and quieter approach to leadership than that of his predecessor [Edmund Ho, who left office after 10 years in December],”

In his elegantly crafted policy address in March – which Chui reportedly began drafting in October – the new chief executive had tough talk for the casino industry, the world’s largest with projected revenues this year approaching US$20 billion, twice the 2009 gaming revenue of the entire US state of Nevada’s casinos, including Las Vegas. Edmund Ho’s administration had been credited with successfully introducing competition to the sector, ending the monopoly of Stanley Ho’s (no relation to Edmund) Sociedade de Jogos de Macau (SJM), adding five new licensees and new investment of more than $12 billion.

Edmund Ho’s team was criticized for letting casino growth stunt the rest of Macau’s economy and for failing to spread the benefits of the government windfall – the government takes nearly 40% of gaming revenue as tax, accounting for 70% of government revenue – equitably among the 550,000 inhabitants of the Special Administrative Region of the People’s Republic of China.

Chui said no new casino projects would be approved beyond those already in process. He threatened to revoke land grants for projects that have not yet been developed. Chui proposed a cap of 5,500 gaming tables – the current total is nearly 4,800 – and promised government audits of casinos.

He also urged the industry to add more non-gaming amenities, although MICE (meetings, incentives, convention and exhibition) facilities, paid entertainment attractions except big-name one-off concerts diverted from Hong Kong, and high priced retail have drawn underwhelming responses to date.

In the casino industry, planned new developments to be completed next year on the Cotai landfill linking Macau’s outer islands – including Sands China’s three-hotel complex across the street from its Venetian Macao and the Galaxy Macau resort, plus Wynn Resorts’ recently confirmed Cotai project – envision additional tables in excess of the cap.

Beyond those projects, SJM has two Cotai plots, one with construction ready to open within three years once the company feels market conditions warrant it, and the long dormant Macau Studio City project, just south of the Venetian Macao, now embroiled in litigation between partners Hong Kong-listed eSun, a subsidiary of the Lai Sun Group, and New Cotai.

New Cotai officials shrugged about the possibility of having the plot taken from them. SJM president for joint ventures and business development Frank McFadden said his company had $2 billion in cash in case any plots did come available, noting, “It gives the government a reason to consider taking the land back.”

• Macau Casinos and Gambling in Macau Macau, that former little picturesque colony of the Portuguese since 1553 certainly has had a colorful history. This tiny country of +/- 540,000 inhabitants must be wondering what is happening...
• US gaming mogul to build new Macau casino HONG KONG — US gaming mogul Steve Wynn plans to build a major new casino in Macau that could open as early as 2013, a report said Wednesday, as the...
• US Gaming Mogul Building New Macau Casino: report US gaming mogul Steve Wynn plans to build a major new casino in Macau that could open as early as 2013, a report said Wednesday, as the Asian enclave continues...

• Review:Barnes & Noble Nook E-Reader The Nook features a six inch grey and white reading display and color touch-screen controls at the bottom of the device. The price is $259, matching the latest price set...
• Business world looks forward to the possibility of a Conservative government Imagine the scenario of a sleek, gazelle like David Cameron lies in wait to attack the lumbering elk bearing a strong resemblance to Gordon Brown as he slowly ambles his...
• Florida at the Sugar Bowl On January 1, 2010 at 8:30 p.m. Eastern time, the Florida Gators, the SEC Eastern Division Champs, will meet the Cincinnati Bearcats, the Big East winners, at the Louisiana Superdome...