Lionel Leong predicts double-digit growth in gaming revenue

Lionel Leong

Gaming revenue will grow faster this year than what was initially forecasted, said the Secretary for Economy and Finance, Lionel Leong, at a public event on Friday. The Secretary now estimates that gross gaming revenue will see “positive double-digit growth” over last year’s results.

According to a statement issued by the Government Information Bureau, Leong noted that gaming revenues have maintained a stable and positive trend, leading him to be confident about Macau’s economic situation.

The acknowledgement of the unexpectedly high growth rate for 2017 – higher than what was initially forecasted – is also leading Leong to believe that in 2018, “gaming revenues will be even higher than in this year.”

Citing government figures, Leong also noted that the gaming sector recorded revenue amounting to MOP26.63 billion last month, making October the best month for the industry since the period of economic adjustment began. Last month’s results are just under the MOP26.8 billion registered during the same month in 2011.

The secretary also said that he expects the gaming and tourism sectors to continue to perform well in November and December.

Questioned separately on the ongoing public consultation regarding the amendment of the labor law and the establishment of a part-time work regime, Leong noted that every time that there is debate over labor issues, employers and employees present different views on the topic. He noted only his hope that the collected public opinions will be useful for the government to “take the right decisions” during the legislative process.