Macau’s gambling industry is going through a rough patch, government vows to help out

Secretary for Economy and Finance says the government would work closely with the sector to overcome challenges related to the ongoing period of adjustment in the gaming market

China.- According to the Government Information Bureau (GIB,) Secretary for Economy and Finance, Leong Vai Tac, met with six casino operators to discuss the enhancing of the Macau’s economic competitiveness and to support the industry, which is going through a troubled stage.

“The local economy had maintained a steady course, with the unemployment rate below 2 percent despite the drop in gaming revenue in the past 18 months,” commented Leong. “The development of non-gaming elements would further help Macao to diversify its economy.”

According to analysts Christopher Jones and John DeCree the non-gaming revenue for Macau casino resorts is “simply not large enough” to compensate the gaming decline. “While the non-gaming segment is growing as a percentage of overall revenues, the mix-shift is being fostered by a reduction in gaming win rather than a more significant acceleration in non-gaming revenue,” was Jones and DeCree take on the matter.

For his part, Paulo Martins Chan, new director of the Gaming Inspection and Coordination Bureau (DICJ) declared that efforts in developing gaming regulations to further to improve Macau’s economic competitiveness shall be made.