International edition
September 20, 2021

Henry Brockman

BBAM chairman calls for deregulation of sports betting in Macau

(Macau).- Henry Brockman, Chairman of the British Business Association, thinks Macau should open up its sports gaming market to attract more firms to the market. Brockman told Macau Daily Times that although BBAM continues to promote British investments in Macau, it’s a bit difficult because most British companies prefer to go to Hong Kong first as it’s an ex-British colony.

But there’s still a reasonably strong community in Macau, there are already around 600 to 700 British citizens in Macau, most of them are employees or entrepreneurs, there are not very large British companies here,” the BBAM chairman stated.

As to the ways to attract more British investors, he said: “I think what the Macau government could do is to deregulate the sports betting market in Macau. At the moment Macau has one monopoly in this field. You know it’s a very big industry. In the UK we have many leading players in this sports betting market, so if the Macau government opens up its market, you can see many big British companies coming here.”

He mentioned five years ago British gaming operators were trying to enter the sports gaming market when they thought it was going to be deregulated, but this never happened. So instead they now have to wait for signals from the Macau government if, in the future, it would be willing to open up sports betting. “If the market is opened, the whole pie would grow. Macau’s government is talking about diversification, and sports betting is a form of deepening of the market and diversifying within the industry and would enrich the scene of gaming in Macau.”

As to the challenges facing British companies, he said, “the great thing about Macau is that it’s a very open economy, a very level playing field for investors. The challenges which all investors face, not unique to the UK companies, include the difficulties in finding enough skilled personnel and also a market that’s large enough for our products.”  He said Macau’s economy is robust comparing to the European and British economies; so for British companies, the opportunities are there, especially in the luxury retail sector, of which there are a number of such British brands including in fashion and automobiles, just like other Italian or French ones.

Brockman said the BBAM has quite an exciting program planned for this autumn, including a visit by the British Chamber of Commerce in Hong Kong. This is to find out about business conditions in Macau, whether it’s a level playing field for investors, and the how the tax, accounting, employment and other factors are different from those in HK, and how they’re going to affects their investment plans in Macau.

“Later on in the autumn, we have a number of speakers on a series of seminars, including the Rector of Macau University, on how the university can become a world-class school to train Macau’s future leaders. In late November, we’ll have a meeting with Rupert Hoogewerf who’s the founder of the Hurun Report, which compiles a list of the richest people in China, to talk about his perspective on how to enter the luxury product market in China. We’ve a number of events coming up to keep our members interested.”

In November 2010 BBAM launched its Business Angels program, to help small and medium sized enterprises to get funding to create new businesses in Macau. BBAM is currently looking for few funding for the program.

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