Macau's leader warns world's biggest gambling hub could face a... > 자유게시판

• 목록
• 답변
• 글쓰기
• 게시판 리스트 옵션
  • 수정
  • 삭제

HONG KONG, April 16 (Reuters) - The leader of Macau said the enclave risks slipping into a budget deficit if gambling revenues in the world's biggest gambling hub drop below 15 billion patacas ($1.88 billion) a month after they fell short of government forecasts in the first quarter.

Chief Executive Sam Hou Fai made the comments on Tuesday to local legislators, according to a government statement.

"If subsequent gaming revenues still do not meet the target, the Government will face a budget deficit," he said, according to the statement.

Macau is a special administrative region of China and is the only place where Chinese citizens are legally allowed to gamble in casinos.

A Portuguese colony until 1999, its economy is heavily reliant on its auto yomi casino login industry which contributes about 80% of the government's tax revenues.

"The imbalance in our fiscal structure is serious and we must maintain a strong sense of crisis awareness. Macau is a small city, yet our regular expenditure is substantial and it will continue to grow unless we face up to extreme circumstances," he said, according to public broadcaster TDM.

A slow down in economic growth both in China and globally are key concerns for Macau's casinos, especially given a flurry of U.S. announcements to impose import tariffs globally, including on China, analysts said.

DS Kim, an analyst at JP Morgan in Hong Kong, said Macau faces "second-order impacts" from the expected slowdown in orders for nearby Guangdong, China's largest export hub, and a weaker yuan.

He now anticipates a potential worst case 10% decline in gaming revenues for Macau versus a low single-digit growth forecast.

Macau's first-quarter gaming revenue rose 0.6% year-on-year to 57.7 billion patacas, or 19.2 billion patacas per month, versus the government's full-year forecast of 240 billion patacas, or 20 billion patacas per month.

Authorities in Beijing and Macau have mandated that the six licensed casino operators Sands China, Wynn Macau , SJM Holdings, MGM China, Galaxy Entertainment and Melco Resorts diversify their revenue base away from the casino industry. ($1 = 7.99 patacas) (Reporting by Farah Master: Editing by Neil Fullick)