No plan for Macau US$13.6B non-gaming spendMuhammad Cohen

Casino concessionaires in Macau are obliged to invest US$13.6 billion in non-gaming projects to create a more attractive, well-rounded travel destination and local economy. Beyond buzzwords such as high tech, finance and Chinese medicine, the government has no template on how to use those funds. Meanwhile, casino revenue for 2025 came in 15% percent below pre-Covid levels, a shortfall of US$5.6 billion, as concessionaires struggle to return to 2019 profit levels. Happy new year!

Former US diplomat and broadcast news producer Muhammad Cohen is Asia editor at large for Clarion Media, a longtime contributor to Forbes, columnist for Asia Times and author of Hong Kong On Air, a novel set in his adopted hometown during the 1997 handover about TV news, love, betrayal, high finance, and cheap lingerie. See his biography, online archive and more at www.muhammadcohen.com; follow him on Facebook, LinkedIn, ex-Twitter @MuhammadCohen and now on Blue Sky @MuhammadCohen.bsky.social.