Macau’s Secretary for Economy and Finance, Lionel Leong Vai Tac, told local media that the government is currently looking for a new Director of the city Gaming Inspection and Coordination Bureau (DICJ) as its current one – Manuel Joaquim das Neves – is to step down from his post on November 25.
Commenting on his resignation, Mr. Das Neves said that he wanted to spend more time with his family. The official has worked as civil servant for the past 30 years. He assumed the post of Director of the administrative region’s gambling regulator in 1997. During his tenure, Mr. Das Neves had the opportunity to witness Macau’s establishment as the world’s most profitable gambling hub as well as the subsequent difficulties the city’s gambling industry faced.
Up until 2001, the city’s casinos were owned and operated by Hong Kong mogul Stanley Ho. Then, Macau decided to open its market to foreign operators, a move that proved to be quite successful as it saw its gaming revenue grow seven times that of the casinos on the Las Vegas Strip. Thus, Macau turned into the world’s gambling mecca, welcoming both mass market and wealthy players from the Asia-Pacific region and the rest of the world.
However, gaming revenue at local casinos has been falling for almost a year and a half now due to the anti-corruption campaign launched by Chinese President Xi Jinping. The anti-graft measures resulted in high rollers staying away from Macau, which imminently contributed to the revenue slump.
Speaking to local media, Mr. Leong said that the government has started looking for a replacement for Mr. Das Neves. The official noted that they will pay special attention to several important factors when looking for candidates for the post. A successful candidate will have to have sufficient knowledge of the industry and its regulations, excellent language skills, as well as knowledge of legal matters.
Mr. Leong also said that Leong Man Ion, Deputy Director of the gambling regulator, would temporarily take the position of Director until a permanent replacement is found. The official expressed hopes that the upcoming transition of work will go smoothly. He also noted that the regulator will continue working on the improvement of the current gambling laws and regulations.
