The Macao Government expects the city's gaming revenue to record a modest double digit growth this year, the Secretary for Economy and Finance, Mr Francis Tam Pak Yuen, said today. Speaking to the press at the spring festival reception hosted by the Liaison Officae of the Central Government, Mr Tam said it was difficult to forecast the gaming revenue for the whole year based only on the figures of the last month. But a low digit growth was a 'reasonable expectation', he said. According to government statistics, Macao's casinos generated 55 billion pacatas (US$6.87 billion) in gross gaming revenue in 2006, a growth of about 23 percent compared with the previous year. Mr Tam explained that the Government released the gross revenue of the whole gaming industry and particular games on a monthly basis, and it would not release the amount of tax collected from particular gaming concessionaires. Asked about the requirements for investment residency scheme, Mr Tam said the Government had no plans to amend the terms for obtaining residency by investing fixed asset, nor the minimum value of related fixed asset. He said the Government could process about 2,300 applications for property investment residency every year, about 2,100 of which were approved in 2006. There were also no plans to alter the number of applications processed and approved every year. The Government would also step up the construction of public rental housing and push forward the Home Ownership Scheme, policies that were outlined in the Government's Policy Address last year, he added.
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