Chief executive Ho Iat Seng said that it is “impossible” for the city to reach its target this year.<\/p>\n\n\n\n\n\n\n\n
Macau.-\u00a0Ho Iat Seng<\/strong>, Macau\u2019s chief executive, has said that Macau won’t reach its target of MOP180bn (US$22.45bn) in gross gaming revenue (GGR) for this year<\/a>.\u00a0According to Asia Gaming Brief, he told a press conference after his 2024 Policy Address, that he couldn’t provide a precise new estimate but that reaching the MOP180bn goal was “impossible.”<\/p>\n\n\n\n In October<\/a>, Macau\u2019s GGR was up 30.6 per cent\u00a0month-on-month<\/a> and 400.2 per cent from last October. Cumulatively, Macau\u2019s GGR for the first ten months of 2023 stands at MOP148.44bn (US$18.44bn), up 315.6 per cent compared to the same period in 2022. For full-year 2022<\/a>, Macau\u2019s casino GGR was down by 51.4 per cent\u00a0year-on-year at MOP42.19bn (US$5.25bn).\u00a0<\/p>\n","protected":false},"excerpt":{"rendered":" Chief executive Ho Iat Seng said that it is “impossible” for the city to reach its target this year.<\/p>\n","protected":false},"author":176,"featured_media":21513,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"is_press_release":false,"is_interview":false,"is_opinion":false,"focusai_summary":"Macau's Chief Executive, Ho Iat Seng, has publicly stated that the Special Administrative Region will not achieve its MOP180bn (US$22.45bn) Gross Gaming Revenue (GGR) target for the current fiscal year. This declaration, made despite robust year-on-year GGR growth in recent months and a cumulative MOP148.44bn for the first ten months of 2023, signals a recalibration of market expectations for the jurisdiction's gaming sector.","focusai_entities":"Ho Iat Seng, Asia Gaming Brief","focusai_location":"Macau","focusai_target_profile":"ceo_executive (0.9), regulator (0.7), operator_casino (1.0), investor_analyst (1.0), supplier_vendor (0.7), journalist_researcher (0.9)","focusai_suggestions":[{"label":"Revised GGR Outlook?","query":"What specific economic headwinds or operational factors are contributing to the Chief Executive's assessment that the MOP180bn GGR target is unattainable, and what is the government's revised internal projection for full-year 2023 GGR?"},{"label":"Concessionaire Impact?","query":"How are Macau's six concessionaires expected to adjust their Q4 2023 and full-year 2023 financial guidance and capital expenditure plans in response to the Chief Executive's updated GGR outlook?"}],"footnotes":""},"categories":[157,16338],"tags":[23907,23906],"class_list":["post-777011150","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-business-news","category-east-asia-news","tag-land-based-casino","tag-macau-casinos"],"_links":{"self":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/777011150","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/users\/176"}],"replies":[{"embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/comments?post=777011150"}],"version-history":[{"count":3,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/777011150\/revisions"}],"predecessor-version":[{"id":777040961,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/777011150\/revisions\/777040961"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/media\/21513"}],"wp:attachment":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/media?parent=777011150"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/categories?post=777011150"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/tags?post=777011150"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}