Losing money due to COVID, the American casino giants that helped make Macao the “Las Vegas of Asia” face a fresh challenge: The tiny Chinese territory wants them to help reduce its reliance on gambling by paying to build theme parks and other attractions. The former Portuguese colony stayed out of business decisions for decades and now is aligning with official strategy on China’s mainland, where foreign companies are required to help pay for the ruling Communist Party’s development ambitions, profitable or not. FILE PHOTO: Gambling tables are set inside the casino during the opening ceremony of the Venetian Macao Resort in Macao. (AP Photo/Kin Cheung, File) The licenses of MGM Resorts, Las Vegas Sands, Wynn Resorts and three Chinese rivals that invested billions of dollars in M...
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