Top Rank's CEO Bob Arum was in Hong Kong to announce a three-fight deal to promote local super flyweight and world title prospect Rex Tso.

Arum confirmed that Tso would fight South Korea's Young Gil-Bae in May in Hong Kong for an Asian regional title.

The deal signals the end of Arum's tie-up with the nearby resort city of Macau, where he has promoted eight casino-based shows in the past three years, including two multi-million dollar Pacquiao fights.

Macau has been hit hard by China's high-profile corruption crackdown which has kept high rollers from the gaming tables and saw casino revenues in 2015 fall to a five-year low.

"We thank Macau for hosting boxing and bringing it on a tremendous basis to this part of the world," said Arum.

"But we know there is not the same appetite for events there as in prior years," admitted Arum.

"If you're not going to get that type of support from the casinos in Macau, it is logical to bring the events to where the people are -- and that's Hong Kong," he added.