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Macau | Comprehensive book on the local casino history avail

edit:casino time:2019-03-05

Macau | Comprehensive book on the local casino history available this monthA comprehensive study of the history of gaming and casinos in Macau written in Portuguese by Jorge Godinho is finding its way to local bookstores this month

Macau (MNA) – A comprehensive study of the history of casinos in Macau is finding its way to local bookstores this month, filing “a major gap” of gaming’s economic and political history in the city says its author, Jorge Godinho.

Os Casinos de Macau. História do Maior Mercado de Jogos de Fortuna ou Azar do Mundo was written with a “broad audience” in mind, the lawyer and visiting professor at the University of Macau explained to Macau News Agency (MNA). It addresses “anyone interested in understanding how Macau became the world’s largest gaming jurisdiction.”

Originally published only in Portuguese, the book spans 170 years of the local industry’s history “with numerous twists and turns,” its author claims, following different political moments and plans.

“In the first half of the twentieth century, the goal was to shut down the gaming industry entirely – and various governors worked towards that. Salazar didn’t like gaming at all, but it was not economically possible to abolish gaming, and not realistic. Then, the perception changed and there was a move towards building tourism facilities and infrastructures,” Mr. Godinho argues.

Centering his narrative on the evolution of concessions, the scholar presents information about the major Macau gaming tycoons, casino locations, the taxation system and the operation and transformation of the industry, which have “gradually shaped the concession system into what it is today.”

The book also gives particular consideration to “the creation of the modern [gaming] system,” including details about the reasons behind the popularity of Baccarat, the emergence and role of gaming promoters, VIP rooms, and the rising taxation.

For industry insiders, Mr. Godinho argues the volume provides “much detail on regulatory and compliance issues,” in addition to “detailed coverage of the tender processes,” including a thorough discussion of the sub-concessions.

“The tender processes are the key and I believe it is interesting to refresh the memory on what are always very stressful moments for all parties involved, the Government and the companies. These are structural, decisive, ‘big bang’ moments. It gets hyper-competitive, with lots of pressure and tension. It’s in the nature of the concession system,” he underscores.

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