Chinese casino hub Macao's elite choose new leader
Updated : August 25, 2019 06:07 PM IST
Ho, a pro-establishment businessman and politician, will become the city's third leader since China took control of Macao in 1999 after more than four centuries of Portuguese rule.
Macao and nearby Hong Kong are former European colonies that were handed back to Beijing, becoming Chinese special administrative regions that retain considerable control over their own affairs under a formula known as "one country, two systems."
Macao, an hour by high-speed ferry from Hong Kong, is the world's biggest casino gambling market, raking in revenues dwarfing the Las Vegas Strip and fueled by high-rolling mainland Chinese gamblers wagering at glitzy resorts run by companies including Las Vegas Sands and Wynn Resorts.