Macau isn’t just the jewel in the crown of the casino industry. British communications company Cable and Wireless is lauding the success of the Macau market. They currently have a 51% stake in local network operator CTM and are pleased with the unprecedented growth that they’re currently experiencing in the region.
Chief executive Tony Rice explained that, “There has been a huge increase in the number of visitors and they all need some form of telecoms capability. The iPhone is doing very well there.”
Macau has been the group’s star performer after yearly revenues in the territory were up 19% year-on-year up to March 2011. It’s thanks in no small part to the burgeoning casino industry
Although Rice later muddied himself, by saying that, “It’s going to be bigger than Las Vegas.” No prizes for guessing who hasn’t done their research!
In other news from the Chinese gambling enclave, a network of bridges and tunnels linking it with Hong Kong has been put on hold. First proposed back in 1983, the project finally got approval in 2003 and began construction in 2009. This was until it was halted last month.
The arguments come from opponents who claim that irreparable damage will be done to the environment. Last month they successfully won a court case against the Hong Kong government after they claimed that the administration hadn’t studied the environmental impact properly. It has caused all manner of problems with workers protesting in the streets against the stoppages and politicians even citing conspiracy theories.
Proponents of the project say that it will enhance tourism in the region and improve logistics with the mainland. It would cut the journey time of around four-and-a-half hours to a fraction at 30 or 40 minutes and provide the casino hotbed with even more reason to smile.
