• Subscribe
  • Magazines
  • About
  • Contact
  • Advertise
Wednesday 2 July 2025
  • zh-hant 中文
  • ja 日本語
  • en English
IAG
Advertisement
  • Newsfeed
  • Mag Articles
  • Video
  • Opinion
  • Tags
  • Regional
    • Africa
    • Australia
    • Cambodia
    • China
    • CNMI
    • Europe
    • Hong Kong
    • India
    • Japan
    • Laos
    • Latin America
    • Malaysia
    • Macau
    • Nepal
    • New Zealand
    • North America
    • North Korea
    • Philippines
    • Russia
    • Singapore
    • South Korea
    • Sri Lanka
    • Thailand
    • UAE
    • Vietnam
  • Events
  • Contributors
  • SUBSCRIBE FREE
  • 中文
  • 日本語
No Result
View All Result
IAG
  • Newsfeed
  • Mag Articles
  • Video
  • Opinion
  • Tags
  • Regional
    • Africa
    • Australia
    • Cambodia
    • China
    • CNMI
    • Europe
    • Hong Kong
    • India
    • Japan
    • Laos
    • Latin America
    • Malaysia
    • Macau
    • Nepal
    • New Zealand
    • North America
    • North Korea
    • Philippines
    • Russia
    • Singapore
    • South Korea
    • Sri Lanka
    • Thailand
    • UAE
    • Vietnam
  • Events
  • Contributors
  • SUBSCRIBE FREE
  • 中文
  • 日本語
No Result
View All Result
IAG
No Result
View All Result

New Secretary for Economy and Finance confident of Macau’s 2020 prospects as mass market GGR overtakes VIP

Newsdesk by Newsdesk
Mon 6 Jan 2020 at 04:24
New Secretary for Economy and Finance confident of Macau’s 2020 prospects as mass market GGR overtakes VIP

Macau’s new Secretary for Economy and Finance, Lei Wai Nong

32
SHARES
775
VIEWS
Print Friendly, PDF & Email

Macau’s new Secretary for Economy and Finance, Lei Wai Nong, says he is “cautiously optimistic” about the city’s economic prospects in 2020 after seeing mass market revenue overtake the VIP sector for the first time last year.

Gaming Inspection and Coordination (DICJ) figures released last week showed that Macau’s gross gaming revenue totaled MOP292.46 billion (US$36.50 billion) in 2019, down 3.4% year-on-year. The negative impact was primarily felt in the second half of the year, which saw year-on-year falls in five of the last six months including a 13.7% decline in GGR to MOP$22.84 billion (US$2.85 billion) in December.

However, speaking to reporters on Friday, Lei – who replaced Lionel Leong as Secretary for Economy and Finance when he was sworn in as part of new Chief Executive Ho Iat Seng’s government on 20 December – expressed optimism for the future due to stronger mass market performance and the impending launch of a handful of new casinos.

According to Lei, mass market revenue in Macau’s casinos represented 53.7% of GGR in 2019, comprising more than half of the city’s gross gaming revenue for the first time as VIP revenue fell to 46.3%. Those numbers compare with 2018 where mass market comprised around 45.3% of GGR and VIP 54.7%.

Lei added that revenue from mass market gaming had grown 16.7% year-on-year in 2019 while VIP revenue had fallen 18.5%. Full details are due to be released next week.

Despite the fall in GGR, Lei noted that 2019 still represented the fifth highest annual revenue from Macau’s gaming sector since liberalization in 2001, adding that the government was prepared for potential challenges ahead thanks to experience gained during previous times of global economic uncertainty in 2008 to 2009 and in 2014 to 2016.

The government will “closely monitor developments in the global economy and would take any precautionary steps for Macau’s economy that might be deemed necessary,” he said.

Lei also pointed to the impending launch of new casinos in Macau as a positive, the most notable being SJM’s long-awaited Cotai integrated resort, Grand Lisboa Palace.

RelatedPosts

Hong Kong to launch “Southbound Travel for Guangdong Vehicles” scheme, no immediate plans for Macau

Hong Kong to launch “Southbound Travel for Guangdong Vehicles” scheme, no immediate plans for Macau

Wed 2 Jul 2025 at 18:10
Team Spirit

IAG announces Light & Wonder, Angel and Aristocrat Gaming as sponsors of Macau After Dark at Vasco – Bar & Lounge on Monday 7 July

Wed 2 Jul 2025 at 15:33
Macau Legend says no concerns over ability to continue after reaching agreement with lenders to defer HK$2.1 billion in looming repayments

Macau Legend says no concerns over ability to continue after reaching agreement with lenders to defer HK$2.1 billion in looming repayments

Wed 2 Jul 2025 at 06:19
Macau GGR comes in at MOP$18.9 billion in April, up 1.7% year-on-year

JP Morgan: Macau GGR surge seemingly sparked by direct VIP, ultra-premium mass gaming customers

Tue 1 Jul 2025 at 18:15
Load More
Tags: casinosGamingGGRgross gaming revenueLei Wai NongMacauMass marketSecretary for Economy and FinanceVIP
Share13Share2
Newsdesk

Newsdesk

The IAG Newsdesk team comprises some of the most experienced journalists in the Asian gaming industry. Offering a broad range of expertise, their decades of combined know-how spans multiple countries across a variety of topics.

Current Issue

Editorial – An inconvenient truth

Editorial – An inconvenient truth

by Ben Blaschke
Fri 27 Jun 2025 at 15:21

It’s understandable that political observers, academics and members of the public in greenfield jurisdictions would express caution around the legalization...

Light & Wonder’s Siobhan Lane

Light & Wonder’s Siobhan Lane

by Ben Blaschke
Fri 27 Jun 2025 at 15:19

Siobhan Lane, Light & Wonder’s highly experienced CEO of Gaming, speaks to Inside Asian Gaming about the company’s ongoing transformation...

Honesty is the best policy

Honesty is the best policy

by Ben Blaschke
Fri 27 Jun 2025 at 14:13

The Thailand Entertainment Complex Roundtable brought industry stakeholders, politicians and supporters of the government’s Entertainment Complex Bill face to face...

Sri Lanka’s casino industry

Sri Lanka’s casino industry

by Shaun McCamley
Fri 27 Jun 2025 at 13:36

Industry veteran Shaun McCamley delves into the complex history of Sri Lanka’s casino industry at a time when the country...

Evolution Asia
Your browser does not support HTML5 video.
Aristocrat
GLI
SABA
Mindslot
Solaire
Hann
Tecnet
NWR
Jumbo
568Win

Related Posts

South Korea’s Paradise reports record drop at Paradise City but low hold hits group’s bottom line

Korea’s Paradise Co keeps rising through 2025 as casino revenues exceed US$60 million in June

by Newsdesk
Wed 2 Jul 2025 at 19:19

Leading Korean foreigner-only casino operator Paradise Co continued its recent surge in June as casino revenues across its properties reached KRW82.0 billion (US$60.3 million) – a slight 0.4% higher than in May but 41.0% higher than the same month last...

Hong Kong to launch “Southbound Travel for Guangdong Vehicles” scheme, no immediate plans for Macau

Hong Kong to launch “Southbound Travel for Guangdong Vehicles” scheme, no immediate plans for Macau

by Pierce Chan
Wed 2 Jul 2025 at 18:10

The Hong Kong government has unveiled plans to launch “Southbound Travel for Guangdong Vehicles” in November, allowing vehicles from Guangdong Province to enter Hong Kong. However, there are currently no definitive plans to implement a similar scheme allowing vehicles from...

APAC-facing gaming companies to see 70% aggregated EBITDA decline in 2020: Moody’s

The APAC iGaming Boom: Key trends and strategies in 2025

by Rose Power
Wed 2 Jul 2025 at 15:37

The APAC iGaming market is bursting with opportunity, and success in this rapidly growing region hinges on exceptional performance and a deep understanding of its unique landscape, enabling operators to tailor strategies that meet the region’s distinctive demands, securing a...

Team Spirit

IAG announces Light & Wonder, Angel and Aristocrat Gaming as sponsors of Macau After Dark at Vasco – Bar & Lounge on Monday 7 July

by Ben Blaschke
Wed 2 Jul 2025 at 15:33

Inside Asian Gaming is pleased to announce global gaming suppliers Light & Wonder as Platinum Sponsor and Angel and Aristocrat Gaming as Gold Sponsors of the upcoming edition of Macau After Dark, MAD 30, to be held on the evening of Monday 7 July...



IAG

© 2005-2024
Inside Asian Gaming.
All rights reserved.

  • SUBSCRIBE FREE
  • NEWSFEED
  • MAG ARTICLES
  • VIDEO
  • OPINION
  • TAGS
  • REGIONAL
  • EVENTS
  • CONSULTING
  • CONTRIBUTORS
  • MAGAZINES
  • ABOUT
  • CONTACT
  • ADVERTISE
  • 中文
  • 日本語

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In

Add New Playlist

No Result
View All Result
  • 中文
  • 日本語
  • Subscribe
  • Newsfeed
  • Mag Articles
  • Video
  • Opinion
  • Tags
  • Regional
  • Events
  • Contributors
  • Magazines
  • Advertise
  • Contact
  • About
  • Home for G2E Asia

© 2005-2024
Inside Asian Gaming.
All rights reserved.

  • 中文
  • English
  • 日本語