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Key words outline Macao’s changes in 15 years (2) (2)

(People's Daily Online)    08:40, December 15, 2014
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12. Light rail

The main construction work of the Light Rapid Transit (LRT) project began in February 2012 in Taipa, and the line is expected to be operational in 2016. The estimated construction cost for Phase 1 (with 21 stations) was revised in June 2011 from MOP 7.5 billion (about US$933 million) to MOP 11 billion (about US$1,370 million).

13. Open gambling licenses

In 2002, Macao SAR government authorized three new casino licenses to private companies, putting an end to the 40-year monopoly of the Macao Tourism and Amusement Company (STDM) in the city's gambling sector. This was part of the drive by local government to further upgrade casino management and promote economic expansion. In 1999, Macao’s gambling revenues were MOP 14 billion, while in 2013 these revenues reached MOP 361.9 billion. The SAR government has also strengthened its supervision over the gambling industry.

14. Non-gambling elements

Non-gambling elements are those other activities hosted by casinos such as conventions, exhibitions, shows, and shopping. The Macao Tower, the Venetian-style Grand Canal Shoppes, the House of Dancing Water of The City of Dreams, and the Music Fountain of Wynn - all are now landmarks of Macao.

15. Upward mobility

Fernando Chui said in August that only when Macao's economy is moderate and diversified can more job opportunities as well as the upward social mobility of people be assured. Chui also undertook in his election manifesto that he would dedicate himself to helping the poor, providing more job opportunities, and creating a safer and fairer working environment, hence accelerating improved standards of living. 

This article is edited and translated from 《澳门15年 热词看变迁》,source: Xinhuanet, author: Zhang Lixin, Liu Chang


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