The Secretary for Economy and Finance, Mr Francis Tam, said today that consolidation after a fast-growing period is good for the long-term healthy and stable development of Macao’s gaming industry. Mr Tam, who is attending the 4th Pan-Pearl River Delta Regional Co-operation and Development Forum in Changsha, was asked to respond to reports on a gaming operator’s decision to delay expansion plan after the Guangdong authorities made a revision to the implementation of the Facilitated Individual Traveling scheme. He said it was normal and common in the business world for investors to adjust their business plans according to changes in the market. Mr Tam said Macao’s gaming industry had gone through several years of rapid growth due to investors’ optimism in the industry’s outlook. “A chance for the operators to adjust their plan according to the market will consolidate the achieved development and is good for the long term healthy development of the industry, “ he said. “It will be normal even if the gaming industry is to enter a consolidating period, and it would only benefit to the overall economic development of Macao after.” He said the Government’s plan was to make gaming a splinter to boost other service industry and was glad to see signs of that emerging, as some non-gaming facilities built by gaming operators would come into service later this year.
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