Macao has tentatively renewed the casino licenses of MGM Resorts, Las Vegas Sands, Wynn Resorts and three Chinese rivals after they promised to help diversify its economy by investing in non-gambling attractions, the government said Saturday.
The announcement is positive news for owners who have invested billions of dollars to build the former Portuguese colony near Hong Kong into the biggest global gambling center. But the requirement to spend on theme parks, music and sports adds to financial pressure at a time when revenue has plunged under anti-virus restrictions.
