MACAU — The drive-by assassinations and gangland shootouts finally have died down in the former Portuguese enclave of Macau. Now comes the hard part: turning a city famed for gambling, girls and guns into a wholesome family and business travel destination.
The small city, an hour from Hong Kong by high-speed boat, was a Portuguese enclave for 442 years before being handed back to China on December 20, 1999. But locals now jest that the real handover will come at the end of this year. That will be the end of the 39-year casino monopoly run by Sociedade de Turismo e Diversoes de Macau, or STDM, a consortium of Hong Kong and Macau investors and 5%-owned by Hong Kong-listed Shun Tak Holdings Ltd. The monopoly dominates the Macau economy.
Approved in outline in late July, Macau’s legislators are expected to give the final go-ahead to the new legislative framework …
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