The most critical change in the gaming industry has been its liberalisation in 2001 and the massive investment in new gaming facilities and growth in employment prospects that ensued, says Ambrose So, chief executive of SJM Holdings and a close aide to casino magnate Stanley Ho.
'One aspect of the liberalisation that was particularly efficient was the seamless transition between the operations of STDM and SJM, which ensured that the gaming operation was not interrupted for one minute, nor the revenue flow to the government or the transition of staff,' says So.
He also believes that Beijing's implementation of the Individual Visit Scheme for mainlanders 'opened a vast new tourism market for Macau'. While not strictly an economic or gaming development, Unesco granting Macau World Heritage status is also something he believes was one of the past decade's most critical developments that will 'ensure preservation of some of Macau's unique environment for generations to come'.
So says that Macau's people 'should be proud of the level of economic development that their efforts have achieved over the past 10 years' as well as improvements to general societal well-being thanks to the successful implementation of the 'one country, two systems' model.
'We at SJM, being the only locally-rooted gaming company, are equally proud to have contributed positively to Macau's success,' says So.
At the same time, So believes people should not be complacent because much work remains to be done in 'dealing with certain stresses caused by rapid expansion of the gaming industry'.