Macau’s Lionel Leong unfazed by weak Q1 GGR

Macau’s Secretary for Economy and Finance said he is unfazed by the first quarter gaming revenue figures, backing his GGR estimate of MOP 200 billion (US$25 billion) for 2016, reports Macau Business Daily.

Lionel Leong Vai Tac says the first quarter revenue figures have been factored into the earlier estimate of full year GGR for the city, despite first quarter results falling short of analyst estimates.

Accumulated gross gaming revenue from the first three months of 2016 was MOP 56.2 billion, representing a year on year decline of 13.3 percent against the same period in 2015.

In February, Leong Vai Tac said he stood behind the MOP 200 billion forecast for casino gaming revenue in 2016, saying it was ‘reasonable’ based on performance during the Lunar New Year period.

When asked by reporters, Leong said gaming operators in Macau had solid development plans, and that the delays of some integrated resorts were related to a number of factors.