It is reported that Macau’s gross gaming revenue – GGR – is predicted to improve amid US – China trade deal according to the special administrative region’s casino operators.
Among the report, was also details of how China’s economic growth of more than six percent could also play a part in an improving positive trend in Macau’s gross gaming revenue, despite a year on year decline in VIP gaming revenue.
The latest deal between the United States and China is a crucial move between the two largest economies in the world that will see some tariffs removed on both sides of the Pacific Ocean.
Big names in Macau’s gaming industry agreed with predictions that could see improvements from last year’s over-three percent decline.
Executives that were in agreement included firms; SJM Holdings Ltd, Sands China Ltd and MGM China Holdings Ltd.
Vice chairman and chief executive officer of SJM Holdings Ltd Ambrose So Shu Fai commented that he was confident on the GGR of Macau in 2020 and that recent developments were very positive factors.
CEO and Executive Director at MGM China Holdings Limited since 2008 Grant Bowie said:
“I don’t think it is as easy as the past; but I’m still very positive that the future is going to be very bright. And I think what we need to do is look for slow and steady increases rather than very rapid increases”.
The firm joints owns and operates one of Macau’s largest casino resorts; MGM Macau in Freguesia da Se, a peninsular district in Macau.
MGM Macau is a 600-room, 35 floor hotel, which was opened in 2007 and features many bars, restaurants and a forty seven thousand square foot casino floor.
In addition to the latest reports, although VIP gaming revenue is still predicted to decline, it is expected to do so at a much lower rate than previously. This, combined with the a boost in a number of firms’ plans to increase tourism products to cater to its mass market visitors is contributing to Macau’s thriving 2020 future.