Inside Asian Gaming

IAG APR 2022年4月 亞博匯 64 FEATURES the activities pursued by the concessionaire. It was feared this might portend direct interference in the business operations of concessionaires, but following extensive feedback during the government’s public consultation period late last year, the proposal had disappeared completely by the time the draft bill reached the Legislative Assembly (AL) in January. Also absent from the draft bill was any reference to restricting the payment of dividends by concessionaires to their shareholders. The initial consultation document had included a proposal that concessionaires may require government authorization before declaring dividends, but again it appears discretion proved the better part of valor in this regard. Adopting a bullish view on Macau’s future, the very fact that the government has shown a willingness to listen to concessionaire concerns and make changes where appropriate suggests a recognition of the need for these operators to prosper if Macau is to prosper. More generally, proponents of a strong recovery trajectory over the next few years point to Macau’s strong fundamentals as the basis for its future. This thesis notes that the key fundamentals that made Macau a winning bet 20 years ago still exist to this day – a large population base nearby and favorable physical access dynamics. Located directly alongside mainland China with its 1.4 billion people, and with easy access by land, air and sea, Macau represents the perfect alignment of the planets. Or does it?