Macau’s gaming industry to continue to grow
In a report outlining the outlook for Asia-Pacific’s gaming sector, Tsang assured: “We expect the gaming sectors in Macau and Singapore to continue to grow in the near term”, but he adds, “the uncertain macro-economic environment is likely to slow the pace of the growth.”
According to Moody’s, Macau’s gaming revenues could increase 15 % to 25 % annually, driven by the growth in the VIP business due to an increase in credit from casinos and junkets, the renminbi’s appreciation and rising income of Chinese households, both of which are conducive to leisure travelling and game spending. The opening of new casinos will also contribute to the growth, says the rating agency.
“At the same time, Macau’s cap on gaming tables until 2013 will prevent excessive competition,” Tsang added.
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