GGR projections omitted from Policy Address as CE urges caution

Gross gaming revenue (GGR) projections were omitted for the first time in a Policy Address, with Chief Executive Sam Hou Fai stating that “careful consideration is required.

In response to media inquiries, Chief Executive Sam acknowledged that the gross gaming revenue (GGR) in April, amounting to MOP18.86 billion, fell short of expectations of MOP22.8 billion, emphasizing the industry’s high dependence on environmental and situational shifts.

“Changes in the overall domestic and international environment profoundly impact our gaming sector, particularly as stable relations among global economies remain crucial,” he stated.

Looking ahead, he remarked, “We must maintain a cautious approach, as future changes remain uncertain.”

While current visitor numbers have increased, with data from the first three quarters showing a 14.5% rise in international tourists, he cited the recent strong performance of the stock market but emphasized the uncertainty over whether this will continue to influence the economic environment and visitor numbers.

“Ultimately, we will continue to exercise caution in addressing the challenges posed by uncertainty,” he concluded.

Additionally, the recently released Policy Address reveals that as of the end of September, Macau’s fiscal reserves totaled MOP658 billion, including MOP167.3 billion in basic reserves and MOP490.7 billion in surplus reserves. YL