Gaming industry to resume growth in 2017: Chiu

Macau’s economy may finally return to growth in 2017, as operators continue to attract recreational gamblers and tourists, says Macau’s chief executive Fernando Chui.

In a report from Bloomberg, the city’s chief said it was a good time for Macau to reposition after a 25-month gaming revenue drop.

“Macau’s gaming industry and the whole economy will continue to adjust, but the decline may shrink to 7.2 percent this year and even resume growth in 2017,” said Chiu.

Chiu said the government was working with its six casino operators to “improve synergies” between gaming and non-gaming pursuits.

In June, Macau gross gaming revenue fell 8.5 percent to MOP 15.9 billion (US$2 billion), according the Gaming Inspection and Coordination Bureau (DICJ).

In a report from DICJ, the gaming regulator said the adjustment period of the gaming industry will continue and the second half of 2016 will probably remain “negative increase”, but the momentum of decrease will slow down.

At the time, Union Gaming said it maintains its view that 162H should see a pickup in year-on-year growth driven by a slowing decline in VIP GGR and new openings.