Macau: Gross gaming revenues down 0.4 % year on year in March
Friday 05 de April 2019 / 12:58
⏱ 1 min read
(Macau).- Macau gross gaming revenues decreased 0.4 per cent year-on-year in March 2019 to 25.84 billion patacas (US$3.2 billion), data released by the Gaming Inspection and Co-ordination Bureau (DICJ) on Monday revealed.
The figure represented the highest revenue haul so far this year and was in line with analyst expectations of flat growth to a decline of 6 percent.
Accumulated gross gaming revenue for the first three months of the year has totalled MOP76.2 billion, a decrease of 0.5 per cent when compared to the same period last year. The figure beat February’s 25.4 billion patacas.
As the special administrative region marks 20 years since its handover from Portuguese rule, slower mainland economic growth, a weaker yuan and a simmering trade war threaten to derail growth.
Located on China’s southern coast, Macau is highly dependent on gambling revenue to buffer its finances. Taxes from casinos currently account for over 80 percent of the government’s total revenue.
Authorities have hardened calls for operators to diversify away from solely gambling and broaden Macau’s economic base to lessen the territory’s reliance on the glitzy casinos.
The Macau government extended casino licences for MGM China and SJM Holdings until 2022, bringing them on par with other operators. Both operators are required to pay a one-off fee of 200 million patacas (US$ 25 million).
Categoría:Casino
Tags: casinos,
País: Macao
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