The South China Morning Post recently reported that Macao Chief Executive Chui Sai discussed his estimate of the City’s 2016 gambling-related income in his speech to the Macao Legislative Council. Cui projected that Macao’s gambling industry may have a pre-tax income of US$25 billion in 2016, which is lower than that of 2015 and is only half of the 2014 number. The gambling business in Macao is currently seeing its worst days in history. Analysts say the primary factors are the significantly slowed Chinese economy as well as the Mainland’s anti-corruption movement. Macao’s gambling income has suffered 17 consecutive months of decline. Although the City is still expanding its capacity to handle a large volume of tourists, the total number of visitors is seeing a decline. The upcoming holiday season is critical to Macao’s economy.
Source: South China Morning Post, November 18, 2015