Macau minister discusses competitiveness of casino industry
Macau Secretary for Economy and Finance Lionel Leong Vai Tac does not believe other gaming industries within Southeast Asia will be in competition with the Macau market.
However, the minister says Macau’s government are monitoring the situation, following a rise of casinos across neighbouring countries.
Leong also acknowledges the need for Macau’s casinos to “continuously improve” to stay competitive.
Monthly gross gaming revenue for casinos increased year-on-year in September – but only by 3% to MOP21.95bn ($2.72bn), following lower-than-expected performance from high-staking customers.
Speaking to local reporters, Leong said: “Macau-based operators have to continuously improve their services in order to be more competitive.
“We are monitoring the situation. We have seen that some regions are trying to develop their own gaming sector but I do not think these would be in competition with the Macau market.”
The stock price of Macau’s top six casinos has fallen 40% on average since June, although September was still the industry’s 26th consecutive monthly year-on-year gain. A higher rate of growth is predicted for October.
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