Macau, the gambling business' most profitable destination (revenues double that of Las Vegas, NV) has decided not to allow expansion of current casinos and have frozen further casino licenses.
Edmund Ho reports to lawmakers "We're now at a stage to review and estimate the development of the industry. We decided not to issue any new casino concessions, including casino sub-concessions".
Current casino owners have taken the news as bittersweet, as they can no longer grow their own casinos but are happy that they'll face no new competition.
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