Macau casino market gets positive prediction

In Macau, Economy and Finance Secretary Lionel Leong Vai Tac  has reportedly declared that he expects this year’s aggregated gross gaming revenues from the over 30 casinos in the city to be higher than they were for 2017. Committed to non-gaming elements: According to a report from GGR Asia, the high-ranking official made the revelation during a Tuesday event in Shanghai and additionally stressed that his government remains committed to bringing even more non-gaming elements to casinos in order to attract a higher percentage of ‘mass-market customers’. He purportedly detailed that such a move would also help such venues to enhance their resilience against future economic uncertainties while assisting the many small and medium-sized businesses in the city of some 651,000 residents.

Economic challenges: Leong reportedly stated that gross gaming revenues in the former Portuguese enclave had remained stable this year despite challenging economic conditions that encompass a slowing economy in mainland China alongside an associated depreciation in the value of that nation’s currency. Revenues rising: Citing official figures from Macau’s Gaming Inspection and Coordination Bureau, GGR Asia reported that the city’s aggregated gross gaming revenues through to the end of October stood at just over $31.1 billion, which represents a swell of 14.3% year-on-year, and could push the twelve-month figure significantly above 2017’s three-year high of $33.01 billion.

October buoyancy: Macau’s aggregated gross gaming revenues for October reportedly rose by 2.6% year-on-year to hit $3.38 billion while GGR Asia explained that several analysts have forecast that this month’s figure could swell by up to 8% to put the final figure for the 30-day period in the region of $3 billion.

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