Seven different government departments have been charged with the oversight of non-gaming investment projects required of Macao’s six gaming concessionaires, specialist gaming publication Inside Asia Gaming reports.
The departments are: the Gaming Inspection and Coordination Bureau (DICJ); the Macao Government Tourism Office (MGTO); the Office of the Secretary for Social Affairs and Culture; the Cultural Affairs Bureau (ICM); the Sports Bureau (IDM); the Health Bureau (SSM); and the Marine and Water Bureau (DSAMA).
The secretaries for social affairs, finance, and public works will also have a supervisory role.
[See more: How would you spend a trillion patacas? (That’s US$124 billion)]
The 10-year concessions granted to gaming operators require them to invest in non-gaming projects – such as urban regeneration, leisure attractions, and cultural facilities – to be implemented in cooperation with the government.
The sums involved are tied to the casinos’ collective gross gaming revenues. By current reckoning, the concessionaires will be jointly spending more than 130 billion patacas (US$16.2 billion) over the term of their licences.
So far, there has been little word on how such an enormous sum will be allocated or whether or not members of the public, or other organisations, can pitch ideas for what to do with the windfall.
