Corruption clampdown not the main reason for Macau’s decline

The popular analyst view that Macau’s plunging gambling revenues are mainly a consequence of a clampdown on corruption by the mainland government, allied to slowing economic growth, has been disputed by the director of the government liaison office in Macau, Li Gang.

The senior official pointed out to local media this week that very few mainland officials convicted of corruption had gambled in Macau, and said he had no knowledge to support media speculation that the mainland government is to tighten the anti-corruption screws still further, or for that matter is planning to investigate big-spending mainland residents.

Li Gang used the media opportunity to again suggest that Macau needs to diversify its economy by involvement in other industries, and ensure it enjoys an orderly and healthy development in the gambling industry…and he suggested that this is best achieved by further regulation.

Related and similar