Macao's casino industry has seen a drop in revenues in the recent months. Is this a crisis or an opportunity for the industry to revamp itself, or for Macao to diversify its economy? This talk will discuss the ramifications of Macao's casino capitalism and its current "consolidation" stage of development. It will argue that while most optimists see Macao's casino industry as being backed by the central government in Beijing, the reality is that the Chinese economic national security has long been neglected in the discussions of Macao's casino development. The Chinese government has regarded political and economic national security as of paramount importance. As such, Macao's casino industry needs to adapt to the Beijing concerns. The current consolidation stage of Macao's casino industry has seen some degree of economic diversification, focusing on eco-tourism, cultural heritage, and the full utilization of Hengqin-Macao cooperation opportunities. Perhaps it is time for the people of Macao, its government, the casino sector, the business and universities to think deeper about how to diversify the economy of Macao collectively while moulding Macao's casino industry in a very unique way.