Key facts
- Macao casino operators pledged over $1.1 billion to a new government fund.
- The fund will invest in nongaming industries and startups.
- Contributions count towards existing spending obligations in casino contracts.
- The initiative's initial size is $2.5 billion, with $1.4 billion from the government and $1.1 billion from operators.
- Sands China and Galaxy Entertainment made the largest operator commitments.
Macao's six casino operators have committed over $1.1 billion to a new government fund aimed at diversifying the city's economy beyond gambling, supporting its latest five-year plan. The contributions will be counted towards existing spending obligations within their casino contracts. The initiative, with an initial size of $2.5 billion, will be funded by $1.4 billion from the government's fiscal reserves and the remaining $1.1 billion from the operators. Sands China and Galaxy Entertainment made the largest individual commitments. The fund will target technology startups, scientific research commercialization, and industry modernization, with an initial term of 15 years.