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Casino tourism: How does entrepreneurship change Macao?
Wong,Ip Kin Anthony1; Siu,Ricardo Chi Sen2
2015-05-15
Source PublicationEntrepreneurship in Small Island States and Territories
PublisherRoutledge
Pages218-231
Abstract

Macao, the world gaming capital, has a gambling history dating back in the 19th century. The initial development of the gaming industry in Macao was sparked by a rapid contraction of Macao’s transshipment hub between China and Europe since Hong Kong opened as a port run by the British government in 1842. Due to Macao’s small geographical area and the short-term tenure of the Macao-Portuguese governments, Macao’s economy lacked business opportunities. In order to energize the local economy, the government approved the gaming business in 1847 despite the absence of any formal regulation. However, between the middle of the 19th century and the middle of the 20th centuries, the gaming industry was largely controlled by a small number of power groups that were chasing short-term profi ts instead of aiming for the industry’s long-term development for this tiny Chinese enclave, then measuring around 10 to 15 km 2 . By following simple business rules of thumb to gain gambling money from the Chinese community, they focused on routine procedures rather than innovation. This was how the gaming business operated for more than a century

DOI10.4324/9781315764528
URLView the original
Language英语
ISBN9781317654544;9781138789982;
Fulltext Access
Citation statistics
Document TypeBook chapter
CollectionDEPARTMENT OF FINANCE AND BUSINESS ECONOMICS
Affiliation1.Institute for Tourism Studies,,Macao
2.University of Macau,,Macao
Recommended Citation
GB/T 7714
Wong,Ip Kin Anthony,Siu,Ricardo Chi Sen. Casino tourism: How does entrepreneurship change Macao?:Routledge,2015:218-231.
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