畢業(yè)論文：The Booming of Macau’s Casino Industry: A Cultural Explanation

The Booming of Macau’s Casino Industry: A Cultural E*planation
A Thesis Submitted in
Partial Fulfillment of the Requirements for the
Degree of Bachelor of Arts
Content
Abstracts
1. Introduction 5
2. Macau Casino Monopoly Concession 6
2.1 Changes of Macau under “One Country, Two Policies” 6
2.1.1 Project investment, regulations and Financial Free Catalyst 6
2.1.2 Stable stream of tourists 7
2.1.3 Hongkong as an essential element 8
2.1.4 Mogul Ho family and the casinos 9
2.2 Macau Open Its Door to American-Organized Casino 10
2.2.1 Significant influence 10
2.2.2 Fierce competition 10
2.2.3 The Sands Macao: A case in point 11
3. Gambling Industry and its impact on Local People in Macau 12
3.1 Gender issues 12
3.2 Ethnic relations 12
3.3 Changes of living condition for local citizens 13
3.3.1 Income Inequalities 13
3.3.2 Traffic and Transportation Problems 14
3.3.3 Air Pollution 14
3.4 Crime and Deviant Behavior 14
3.5 Some Problems in Education 15
4. Macau Gambling Diversification in the Future 17
5. Conclusion 18
References




Abstract:
The past decade was the golden age of Macau’s economic growth, and the gambling industry was the largest contributor. To a great e*tent, the boom of gambling business benefited much from Macau’s liberalized industrial policy. In 2002, Macau Special Administrative R
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to pay gambling rent to the government. The first casino monopoly concession was granted to the Tai *ing Company in 1937 . However, Tai *ing Company was too conservative to fully e*ploit the economic potential of gambling. Only three decades later, the industry saw a major breakthrough in 1962 when the government granted the Sociedade de Turismo e Diversões de Macau (STDM), a syndicate jointly formed by Hong Kong and Macau businessmen. In other word, it’s the monopoly rights to all forms of gambling. The STDM not only introduced western-style games but also modernized the marine transport between Macau and Hong Kong, bringing millions of gamblers from Hong Kong every year. The gambling license was e*tended in 1986 for another 15 years but e*pired at the end of 2001.
Even Macau seceded from the Portuguese in 1999 and became part of the Peoples Republic of China; there were no changes to gambling policy in Macau during this transition (will be fully discussed in Chapter II).
Another turning point was American casino operators first opened Macau market in 2004. Macau has grown faster than a dealer sorts chips. The former Portuguese colony, a “special administrative region” of China since 1999, is now the world’s gambling capital. In 2002, the Macau government ended the monopoly system and si* casinos operating concessions are granted to Sociedade de Jogos de Macau (SJM, an 80% owned subsidiary of STDM), Wynn Resorts, Las Vegas Sands, Gala*y Entertainment Group, the partnership of MGM Mirage and Pansy Ho Chiu-king, and the partnership of Melco and PBL. Gaming revenues in the first 11 months of the year were 44% higher than in 2010. Macau is now five times bigger than Las Vegas, becoming the oriental sin of the world.
2. Macau Casino Monopoly Concession

2.1 Changes of Macau under “One Country, Two Policies”
Even there were no big changes in the gambling system in Macau, since it was handed over to China in 1999, to a certain e*tent, Macau always depend on Beijing. Like Hong Kong, Macau is officially part of China but has a separate system of government, which is well known as “One Country, Two System”. Unlike its neighbors, Macau is fully dependent on mainland China for the stream of tourists, because Macau is the only place in China where casino gambling is legal. Due the above reasons, in the following article tremendous changes in various realms are fully discussed since the end of monopoly concession.
2.1.1 Project investment, regulations and Financial Free Catalyst
With Macau becoming the world’s biggest gambling moneymaker right after the American took steps on this wonderland, China has planned ambitious transportation projects as well. China now sits a top US$2.4 trillion in foreign-e*change reserves; the largest stockpile of any countries the world (Japan stands in second place with US$1 trillion). But this bounty comes with one big headache: where should Chinese Communist Party officials park all that money?
The 1970s and 80s saw rapid economic growth in Macau, sustained by the production of garments, toys, and low-end electronic goods. The opening of China’s economy and the formation of the Zhuhai Special Economic Zone facilitated cross-border investments and made available low-wage workers from China. China’s influence on Macau’s economy increased, particularly in logistics, transportation and real estate. For instance, to increase the utilization of its aviation services, mainland China has concluded several agreements with Macau and Taiwan in 2004. The Macau Airport is used as a stopover facility for flights from Nanjing to Taipei. The Taipei-Macau-Shanghai and Taipei-Macau-Shenzhen flights are operational. In late 2004, the Taipei-Macau-*iamen route registered over 100 weekly flights- an arrangement that cut into the profits of Hong Kong’s Chep Lap Kok Airport. As to the real estate, since recruiting thousands of mainland employees working in the service and gambling industry, which the local Macau citizens not willing to involved, these labors need to find affordable accommodation in mainland. Beijing is now a major supplier of food, fresh water, energy, raw material and capital goods to the former Portuguese colony. The size of the SAR has grown, as a result of reclamation projects associated with the airport, port and new in Praia Grande Bay. Thus, China would love to invest the huge amount of bounty into Macau, which including an improved railway system on this half artificial reclamation, and the world’s longest cross-sea bridge connecting Macau to Hong Kong to attract more visitors.
Comparing with Hong Kong, Macau is not only an offsho ……（未完，全文共33503字，當前僅顯示6025字，請閱讀下面提示信息。收藏《畢業(yè)論文：The Booming of Macau’s Casino Industry: A Cultural E*planation》）