This paper aims to study the foreign factors of production involved in the development of Macau’s gaming industry since 2002. A few key factors under consideration include foreign labor employment, foreign capital investment, and foreign-utilized market share (or foreign-reaped gaming profit). The associated problems are the rising foreign ownership, the real source of investment funding, and the rising impacts of social costs as an adverse side-effect of fast gaming development. After more than 12-year opening of casino gaming as the most important industry, the Macau Government believes that it is time to review the issues about the renewal of 3 gaming concessionaires and 3 sub-concessionaries, which are about to expire between 2020 and 2022. We are now in a position to examine the implication of the foreign factors for local economic welfare by looking at all positive and negative sides of introducing foreign elements in local gaming industry. This subject is crucial to Macau’s economy due to its dependency on this industry