SBC News Voice of the Sports Betting Industry
Amid continuing declining revenues for its casino sector, the Macau government will publish its mid-term economic review undertaken by Economic & Finance Secretary Leong Vai Tac.
The Vai Tac review which began in May aims to research the overall effect of Macau’s biggest sector on the provinces economy and its potential recovery. The mid-term review focuses on eight key topics
“development of the gaming industry; its economic impact on Macau; its impact on small- and medium-sized enterprises; its impact on Macau’s society; the relationship between the gaming and non-gaming sectors; whether gaming operators are complying with the terms in their contracts; the operations of gaming companies; and whether gaming operators are fulfilling their social responsibilities.”
The Macau government has confirmed to its six casino operators that the review will have no bearing on licensing concessions. The review has been carried out to help the government promote best practices and aid overall policy for the province.
2015 has been an ‘annus horribilis’, for Macau casino operators who have been hit by an estimated $100 billion downturn, caused by the Chinese governments clampdown on corruption attached to gambling activities.
A city census by the tourist board in April reported that the province had seen a 13.5% decrease in visits in 2015.
Further bad news saw Japanese trading house Nomura Holdings predict that the regions casinos would see an overall 8% decline in year on year trading for 2016.
