The Government is committed to ensure Macao has stable gaming-sector revenues for 2019. This was despite uncertainties globally, linked to friction on trade issues between China and the United States; possible interest rate rises; and other issues affecting the world economic system.
The Secretary for Economy and Finance, Mr Leong Vai Tac, told reporters on Tuesday (15 January) that if gaming revenues for 2019 showed slight improvement compared to 2018, he would consider that a good performance under the circumstances.
He stressed that the expanding amount of non-gaming offered at the city’s integrated resorts and hotels would help diversify Macao tourism’s source markets, and help the city provide a unique experience for visitors.
Regarding Macao’s overall economic prospects, Mr Leong said the Government would strive to make progress in that field, while ensuring social stability. He added the Government would closely monitor developments in the global economy.
The Secretary also commented on issues relating to any refreshment of gaming rights for Macao’s current gaming concessions and sub-concessions. The Office of the Secretary for Economy and Finance was analysing a technical report –submitted by the Gaming Inspection and Coordination Bureau – and would announce to the public in due course the results of that analysis.
The Government was heeding opinion voiced from various sectors in the community, he added.
According to Mr Leong, factors when considering the possible refreshment of gaming rights for current operators included: whether such a path would help Macao achieve its goal of transforming and of holding a strategic position as a world centre of tourism and leisure; and whether it would help maintain Macao’s competiveness internationally and regionally.
The concessions and sub-concessions of the six current gaming operators will expire on various dates between 2020 and 2022.