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Macao's Q1 gaming revenue down 13.3 pct as anticipated: financial chief

Xinhua, April 5, 2016 Adjust font size:

Macao's gaming sector recorded about 18 billion patacas (about 2.25 billion U. S. dollars) gross revenue in March, and its Q1 revenue is down 13.3 percent, the special administrative region's financial chief said Tuesday.

Macao's Secretary for Economy and Finance Leong Vai Tac said although this March's figure drops 16.3 percent year on year, but the gaming sector's first quarter performance is within the range anticipated by the SAR government.

The drop of 13.3 percent in first quarter is close to the gross revenue decrease percentage of 2016 compared with 2015, which is anticipated by government when making its 2016 budget, the financial chief added.

Leong said the future development of Macao's economy and its gaming industry lies on good services to visitors, especially the services provided by non-gaming areas. Such new trends will help to attract middle class people and families to Macao for consumption.

Yao Jian, deputy head of the Liaison Office of the Central People's Government in the SAR, recently said new active elements have appeared in Macao's industrial restructuring process as non-gaming revenues increased 2 percent in 2015 despite the drastic slump of gambling industry. Endit