Macau: gaming gross fixed capital drops 55%

Without large project openings, numbers dropped in 2019.
Without large project openings, numbers dropped in 2019.

According to the Statistics and Census Bureau, the gross fixed capital formation in 2019 fell compared to the previous year’s numbers.

Macau.- The Statistics and Census Bureau (DSEC) has revealed the gross fixed capital formation by the local gaming sector fell by 55.4 per cent year-on-year in 2019 to MOP3.03 billion (US$379.5 million).

Analysts attribute the drop to the completion of large scale projects without opening dates in 2019, while in 2018, Macau saw the opening of MGM Cotai, Morpheus and The 13 Hotel.

Figures released by the DSEC also show that total expenditure in the gaming sector dropped by 6.7 per cent year-on-year to MOP117.79 billion (US$14.7 billion), due to a drop in the purchase of goods, commissions and customer rebates.

Total receipts dropped by 2.8 per cent year-on-year to MOP296.09 billion (US$37 billion).

As for income, the DSEC has revealed that gaming receipts fell by 3.5 per cent year-on-year to MOP292.34 billion (US$36.5 billion) in 2019, but with interest receipts seeing a 415 per cent increase last year to about MOP2.71 billion (US$339.4 million). The number was boosted by an increase in interest received from deposits and loans.

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