The government is committed to ensuring Macau has stable gaming sector revenues for 2019, Lionel Leong told reporters this week. According to the Secretary for Economy and Finance, the local gaming industry would perform well this year if gaming revenues showed slight improvement compared to 2018. The Secretary justified this opinion quoting uncertainties in the global economy linked to friction on trade issues between China and the United States, possible interest rate rises, and other issues affecting the world economic system.
Leong stressed that the expanding proportion of non-gaming activities offered at the city’s integrated resorts and hotels would help diversify Macau tourism’s source markets and help the city provide a unique experience for visitors.
The Secretary also commented on issues relating to any refreshment of gaming rights for Macau’s current gaming concessions and sub-concessions. The Office of the Secretary for Economy and Finance is currently analyzing a technical report – submitted by the Gaming Inspection and Coordination Bureau – and will announce to the public in due course the results of that analysis.
According to Leong, factors when considering the possible granting of gaming rights for current operators included whether such a path would help Macau achieve its goal of transforming and of holding a strategic position as a world center of tourism and leisure and whether it would help maintain Macau’s competitiveness internationally and regionally.
The concessions and sub-concessions of the six current gaming operators will expire on various dates between 2020 and 2022.
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