Chui expected to be named Macau chief executive

Macau politics resembles Nevada – the process of anointment has a grip on the system.

According to The Associated Press, Fernando Chui is the odds-on favorite to be elected as the new Chief Executive of Macau. The job is basically governor of Macau, a Special Administrative Region of the People’s Republic of China.

The appointment is expected to be made Sunday by a 300-member election panel and will be the former Portuguese colony’s first change of leadership since its return to Chinese rule a decade ago.

Chui will replace Edmund Ho, who has overseen Macau since December 1999. Ho was at the forefront of Macau’s expansion into legalized casino gaming, attracting Las Vegas-based Wynn Resorts, Las Vegas Sands Corp. and MGM Mirage into the enclave.

Macau is the only area of China where gambling is legal. During it’s rule by Portugal, Hong Kong gambling tycoon Stanley Ho (no relation to Edmund) held a monopoly on the region’s gambling concessions.

Edmund Ho announced last year that Macau would not issue new casino licenses or approve new applications for additional gaming tables or slot machines in the near future.

The decision doesn’t impact current expansion projects, such as the $700 million Encore at Wynn Macau or plans by Las Vegas Sands to restart its stalled developments along Macau’s Cotai Strip.

There is an outside hope within the gaming industry that a new chief executive might lead to additional gaming concessions.

Harrah’s Entertainment, which didn’t participate in the original Macau gaming licensing process, acquired a Macau golf course in 2007 with hopes the site could become a casino complex if expansion is approved.

Chui, 52, is a former culture minister from a prominent local family. He has not discussed plans for the casino community.

But few expect radical changes for now. Analysts say Chui will likely maintain existing policies governing taxes, licenses and the number of gaming tables and slot machines. Any change would need approval from the Beijing government.

Last year, Beijing imposed visa restrictions that curbed the number of visits by Mainland Chinese citizens into Macau. Several of the neighboring provinces are the largest provider of gamblers to Macau’s casino industry.

The worldwide economic crisis has led to a gradual decline in Macau gaming revenues. The visa restrictions have also caused Macau’s once white-hot economy to slow.

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