Wilson White, the Big Kahuna from the Tunney Media Group, was hoping to expand his corporation's empire into Macao, one of two free enterprise zones in China. (Hong Kong is the other one.) This has been a running subplot in several episodes of 'Studio 60' so far in its first season on the air.
Until 1999, Macao was a colony of Portugal, and was known for its casinos. I guess in hopes to keep the transition to rule by the People's Republic of China smooth, the Chinese government let them basically keep running things as usual. Probably the same deal that was in place for Hong Kong.
Macao has played a role in Toobworld once before:
'Hawaiian Eye' - "Dead Ringer"
Tom Lopaka is hired to help a woman sneak an art object into Macao by impersonating her husband, not knowing that she murdered her husband and has the same plans for him.
I'm not saying it serves as a link between the two shows. That would be like saying 'Seinfeld' and 'NYPD Blue' have to be linked just because they both took place in New York City.
But it's always nice to know the history behind a real location as it is seen in Toobworld.....