According to a new article in the Macau Daily Times, the island’s world-class gaming industry may be called upon by the government to support a new local arts initiative on the island.
Members of the Committee of Cultural Industries want to increase the number of creative industry venues in Macau, and the committee suggests that the gaming industry and the local government should play a role.
Limited Space
Committee members Angela Leong, Si Ka Lun, Jenny M. F. Kong and Agnes Lam point out that a lack of space devoted to the arts on the island is a major reason for the “sluggish development” of the arts industry. The committee suggests that “idle facilities,” such as the Macau East Asian Games Dome and the “glass house” in Tap Seac Square, could be converted to centers devoted to arts development.
Government Subsidies
In addition to creating places for local artists to display their work to the public, committee vice president Chui Sai Peng wants to subsidize eligible local artists to travel abroad for exhibitions.
Agnes Lam urged the government to help fund arts education programs outside of local schools that target children with financial
difficulties. She noted that in Chinese society, arts education is typically only available for children of middle and upper-class families.
Gaming Companies’ Role
Peng believes that the gaming industry could play an important role in boosting the local creative industry by including art projects in their developments.
Major Macau gaming operators Melco Crown Entertainment Ltd MPEL 4.59%, Las Vegas Sands Corp LVS 3.75%, MGM Resorts International MGM 1.47% and Wynn Resorts, Limited WYNN 5.85% all currently have new Macau resorts planned that are in various stages of construction.
More than 80 percent of Macau’s total revenue comes from the gaming industry, and the Chinese government has been encouraging casino operators to branch out from gambling by creating other tourist attractions when developing new resorts.
Gaming companies may see the new arts initiative as an opportunity to demonstrate their commitment to local culture outside of the casinos.
Read this article and all my other articles for free on Benzinga by clicking here
Want to learn more about the stock market? Or maybe you just want to be able to look sophisticated in front of your coworkers when they ask you what you are reading on your Kindle, and you’d prefer to tell them “Oh, I’m just reading a book about stock market analysis,” rather than the usual “Oh, I’m just looking at pics of my ex-girlfriend on Facebook.” For these reasons and more, check out my book, Beating Wall Street with Common Sense. I don’t have a degree in finance; I have a degree in neuroscience. You don’t have to predict what stocks will do if you can predict what traders will do and be one step ahead of them. I made a 400% return in the stock market over five years using only basic principles of psychology and common sense. Beating Wall Street with Common Sense is now available on Amazon, and tradingcommonsense.com is always available on your local internet!
