Lionel Leong predicts gaming revenue to remain at 2014 level

Lionel Leong, Secretary for Economy and Finance, estimates that Macau’s monthly gaming revenue in 2015 will remain between MOP23 billion and MOP28 billion; a range similar to that in the second half of 2014.
Mr Leong made the comment yesterday in Beijing. He said that there has been a relatively large adjustment to the gaming revenue over the last seven months, and that revenue levels will remain similar if changes are not made. He also said that some adjustments in monthly gaming revenue might be seen over the upcoming Chinese New Year period, as well as this year’s Labor Day and National Day golden weeks.
Moreover, Leong said that he is optimistic about Macau’s economy in the long term. Nevertheless, he said that he still does not have any forecasting figures regarding the city’s economic condition in 2015, due to the fact that some of the factors are changing relatively rapidly.
“I still do not have a forecasting figure now. I am currently conducting research for the budget… At this moment, our economic forecast for the year is [that we have to be] cautious,” he said.
Mr Leong said the administration will monitor external factors that may contribute to an earlier increase in interest rates. These include the possibility that the United States may raise its interest rate, which will affect interest and currency rates all over the world. He also mentioned the quantitative easing measure that some regions have adopted recently.
Nevertheless, he stressed that a particular country’s change in interest rate may not immediately impact Macau, since it also depends on whether the change will trigger effects in other regions.  JPL