| As was announced by Macau’s officials, Macau Special Administrative Region (SAR) is likely to see a double-digit increase in revenues of 2008. Currently, Macau has 29 casinos operating on its territory; the most recent was opening of Ponte 16 casino resort this February.
As market competition between Macau casinos will definitely increase within the course of the year, some of them may lose their market share. In fiscal amounts, the revenue of 2008 may be estimated at the level of over US $10 billion. Compared to last year’s absolute record of growth, the percentage is going to be lower (in 2007, gross gaming revenue rose 46.6 per cent); however, SAR very likely is to retain the reputation of the most profitable gambling territory of the world.
Despite the optimistic prognoses, officials warn of the possibility of negative factors’ influence on Macau’s economy. Main risk factors are possible recession in U.S. economy, drops in stock markets and weather force majeure events that may be caused by excessive snowfalls in mainland China. SAR authorities undertake to inform of all such changes to minimize the risks for tourists and residents of Macau.
|
