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Macao May Open
Gaming to More Foreign Interests
The former Portuguese colony of Macao, fabled home of gambling in
the orient, may soon invite more foreign interests to participate
in the lucrative gaming industry of this busy south China port. According
to press releases from Xinhau News Service, the Macao Special Administration
Region (SAR) is studying the legal aspects of promoting competition
in the gaming field, currently monopolized by the Macao Tourism and
Amusement Company (MTAC), that has held the franchise for several
decades. MTAC's contract with the SAR government expires at the end
of 2001. Edmund Ho Hau Wah, chief executive of the Macao SAR stated,
however, that no discussions would be held with interested entities
until legal outlines had been finalized, possibly by the middle of
the year.
Though under the "one country, two systems" theory, Macao will be
allowed to continue to develop it's gaming industry, the government
has stated emphatically that Chinese companies will not be allowed
to participate. Gambling is strictly prohibited on China's mainland
and this policy will apply to Chinese owned businesses in Macao.
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