Looking likely to hit target: Leong

Secretary for Economy and Finance Lionel Leong says the government is optimistic about reaching its MOP 200 billion ($25 billion) GGR goal for 2016.

The secretary’s comments come days after the release of Macau’s October GGR results, which came in at MOP 21.8 billion, an 8.8 percent year-on-year increase.

In an interview with Macao Daily News, the secretary said the government also predicts a similar estimate for total gaming revenue in 2017, given that the gaming industry may still be affected by instability and uncertainty.

While the city’s gaming revenue has been seen to be recovering over the last three months, Leong noted that the city should continue to focus on strengthening non-gaming elements in the city.

Once the non-gaming elements pick up, the city’s overall revenue will consequently improve, which will also boost the city’s development as an attractive world centre of tourism and leisure, he said, quoted by local media.