Lionel Leong says too early to tell if Macau gaming sector is bottoming

Macau Secretary of Economy and Finance Lionel Leong Vai Tac said it’s too early to tell if Macau’s gross gaming revenue will stop declining, local media reports.

“It takes more time to observe the situation,” said the Secretary in Beijing.

Leong made the comments on Wednesday this week while attending China’s National People’s Congress (NPC) as a member of the Macau delegation.

“Any conclusion that gaming revenues will stop dropping or rebound is still too early. We need to constantly monitor the situation, especially the neighbouring regions, customer sources and capital flow,” said Leong.

The secretary also said he would focus on using national policies to improve the economic diversification of Macau, as well as the development of the MICE industry.

On the sidelines of the Congress, Ambrose So Shu Fai, chief executive of SJM Holdings gave a similar perspective, despite seeing a slight improvement in the business performance of the mass market at its properties and VIP rooms.

So said March will be the key month by which to gauge the future trends of the gaming industry.