Macau (MNA) – Macau’s government on Tuesday said it is aware of external factors that can influence gaming revenues, such as trade disputes between China and the US and increase in interest rates.
“Due to the trade disputes between China and the US and an increase in interest rates it will be difficult to assess what concrete changes may arise regarding the growth of the gaming sector,” said the secretary of economics and finance of Macau, Lionel Leong, according to a statement sent by local authorities.
However, Leong reiterated that the government’s forecast is that revenues this year are to be similar to last year.
Macau, the world’s gambling capital and the only place in China where casino gambling is legal, recorded in 2018 302.84 billion patacas (€32.79 billion) in gambling revenue, a 14% increase compared to 2017, according to official data.
The goal for 2019 includes “seeking progression while maintaining stability,” Leong said, stressing he is aware of the changes that gambling is going through, both in neighbouring regions and worldwide.
The latest official data from the country’s Statistics and Census Services (DSEC) showed that Macau’s economy is increasingly dependent on the gaming sector.
