Deja vu gaming revenues this year

The Macau Foundation president is confident that gaming revenues have stabilised. During a lunch with English and Portuguese media Wu Zhiliang told Business Daily he expects 2016 gaming revenues to be similar to those of 2015. Macau Foundation gets its revenues from the gaming taxes the government imposes on the six operators, using some of them to fund institutions and ac­tivities every year. Gaming operators pay 39 per cent gaming tax. The Foundation continues to maintain a favoured relationship with local associations as these are regarded as the best way to benefit a larger number of residents. Last year, Macau Foundation supported 2,371 projects presented by 806 institutions and individuals in the amount of MOP2.3 billion ($US287.5 million). Education, social affairs, equipment and human resources are some of the main areas supported by the Foundation. Speeding up the construction of a multifunctional centre near Sun Yat-sen Avenue is one of the Foundation’s tasks for 2016. The centre, to be built on land currently occupied by the parking lot of the Science Centre, will provide a multifunctional place for conventions, exhibitions and cultural activities as well as Macau Foundation’s new offices. The first phase of the project is expected to be ready in 2018.