Brokerage Seaport Research Partners said it does not expect “significant changes” to the Macau gaming industry when a new CEO is installed following elections scheduled for later this year.
On Wednesday, Macau’s current chief executive, Hoat Seng (pictured), announced that he would not seek a second term in a scheduled October vote. 안전한 카지노사이트
“Due to health issues that have yet to be fully addressed, I have decided not to run [for chief executive position] in the best interests of the region and to ensure the long-term development of Macau,” Ho said in a personal statement issued by the State Information Service.
Port analyst Vitaly Umansky said in a note on Wednesday that the announcement was “not surprising because Ho has been reporting health issues for a while and extended his vacation in July.”
“There are no clear candidates at this stage, but we expect the final CEO to come from within the government administration,” Umansky said.
“With key policy objectives continuing, including support for the [urban] gaming and services industries, maintaining status is most likely to be the main driver for the new chief executive.”
According to Seaport, the individual likely to take on the CEO role “will be fully verified and approved by the Chinese government and will likely take office based on the Macau government’s strong experience and understanding of the importance of the gaming and hospitality industry to Macau’s economic welfare and future development.”
The agency suggested that Andre Cheng Wong-Sio Chak, the current minister of justice and administration, and Sam Hou-Pai, the president of the final appeals court, are potential candidates.
The nomination period will run from Aug. 29 to Sept. 12, and elections are scheduled for Oct. 13. A new CEO will take office sometime in December.