Revenues from Macau’s casinos are expected to be 200 billion patacas (US$25 billion) in 2017, a figure similar to that expected for this year, Macau’s Chief Executive, Chui Sai On, said on Tuesday in a Policy Address for 2017.
Casino gambling revenue at the end of October reached 184.607 billion patacas (US$23 billion), and if the monthly average remains at 184.6 million patacas at the end of the year the total is expected to exceed 220 billion patacas.
Chui Sai On also said that the Macau economy is expected to return to growth in 2017, driven by gaming, but added that this growth should be moderate – “single-digit” – compared with a 20.3% contraction in 2015 and of 10.3% in the first half of 2016.
Global revenue from casinos started falling in June 2014, a process that lasted for 26 consecutive months and was only reversed in August 2016.
The Chief Executive of Macau also referred to the previously announced Portuguese-speaking professional staff training programme and said that he would order a “scientific study to discover the number of qualified staff” needed.
Reaffirming the Macau’s political purpose as a platform between China and Portuguese-speaking countries and a centre for Portuguese teaching in Asia, Chui Sai On stressed the importance of “market demand” because the market drives individuals to study Portuguese.
The 2017 budget that implements the Government Policy Plan provides for overall expenditure of 95.725 billion patacas (US$11.965 billion) and an overall surplus of 7.218 billion patacas (US$902 million). (macauhub)