Macau has unveiled a new medical facility within Studio City, marking the debut of the world’s first hospital featuring MRI and CT scan machines inside an integrated resort. Spanning 15,000 square feet, the iRad Hospital is run by Hong Kong-based iRad Medical and was developed by Lawrence Ho’s Black Spade Capital.
Macau Bets on Medical Tourism
Lawrence Ho expressed his intention to contribute to the growth of medical tourism and support the city’s diversification efforts. He noted that the project aligns with the Government’s “1+4” economic diversification strategy by promoting investment in healthcare and tourism-related services.
The facility is located within Studio City, a Hollywood-themed casino and entertainment resort owned by a Hong Kong-based group. Macau has long leveraged its reputation as a gambling hub, attracting visitors from mainland China, Hong Kong, and across Asia. iRad Hospital, the private healthcare provider behind the medical resort, estimates annual visitor numbers at nearly 40 million. It hopes that by offering healthcare services, visitors will be encouraged to extend their stays and increase their spending.
The opening of the new facility comes just days after Macau experienced Golden Week, one that was deemed by experts to be the strongest such week following the COVID-19 pandemic, when the city’s casinos had to shut down.
Diversification of Income and Political Pressure Are Driving Forces Behind the Opening
Macau’s gaming boom took off in the early 2000s, when the government opened its gambling industry to international casino operators, shortly after the former Portuguese colony was handed back to China in 1999. Although Macau surpassed Las Vegas in gambling revenue, it has since faced challenges in broadening its economy beyond the entertainment sector. Gaming taxes continue to make up the bulk of government income.
The push for economic diversification appears to be driven by the highest levels. During a visit in late 2024, Chinese President Xi Jinping underscored the importance of developing “economic diversification” and fostering “new industries with international competitiveness.” In contrast to Hong Kong, which has experienced significant pro-democracy movements and tensions with Beijing, Macau has maintained a more stable and cooperative relationship with the Chinese Communist Party.
However, that dynamic has shifted in recent years, with observers pointing to growing signs of Beijing tightening its control over Macau. In the most recent legislative elections, voter turnout dropped significantly following the disqualification of several candidates under a newly introduced law.
The opulent displays of wealth and Macau’s reputation as a playground for the elite seem to have drawn concern from the Chinese Communist Party, particularly as President Xi Jinping has pushed for a crackdown on such excesses on the mainland, promoting a vision of “common prosperity” instead.