An attempt to rebrand Macau’s image from a gaming hub to a city of entertainment is no easy feat. However, Macau’s six gaming operators are up for the challenge. Their strategy – attracting prestigious concerts and shows to Macau in order to draw more people to the city.
Speaking to AGB, Davis Fong, Professor in Integrated Resort and Tourism Management and Director of the Institute for the Study of Commercial Gaming, says that concerts have become a new calling card for Macau in a collaborative effort at destination branding.
Fong says that Macau has not traditionally been associated with prestigious events and concerts, but recent events have yielded promising results. The number of visitors to Macau driven to the destination for its entertainment offerings is growing.
Under the new 10-year gaming licences, the authorities in Macau have demanded that gaming operators invest more in non-gaming offerings. All six concessionaires have stated that they will prioritise organising more MICE, entertainment, and sports-related activities in Macau, vowing to invest $14.8 billion over the next ten years.
The attempt to diversify what Macau offers to visitors could be down to a number of reasons. As recently reported on SiGMA news, Macau might be feeling the pressure from potential competitors in the region. The evolving gambling landscape of Asia and the Middle East is undergoing a significant transformation as some of the region’s most prominent tourist destinations venture into the realm of casino development.
This drive for Macau operators to adapt to the changing dynamics, however, is no reflection on the current success of the gaming industry. Macau’s gaming sector is set to make a full recovery, with revenues projected to reach 100 percent of pre-COVID levels by October 2023, according to investment bank JP Morgan.
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