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the institution said: “The main driver of medium-term growt

edit:casino time:2019-03-04

Maria Helena de Senna Fernandes, director of the Macao Government Tourism Office (MGTO), said in May last year she would be pleased if the city’s casino industry could achieve 40 percent non-gaming revenue as a percentage of sector-wide revenue.

The International Monetary Fund (IMF) expects Macau’s economy to expand by 5.3 percent this year. In its latest report on the city, the institution said: “The main driver of medium-term growth is tourism, with mass gaming and non-gaming tourism further expanding, but more subdued VIP gaming growth, in line with authorities’ diversification efforts towards more stable sources of growth.”

A Sunday note from Japanese brokerage Nomura offered an upward adjustment to its estimate of first-quarter Macau GGR.

Macau’s gross domestic product (GDP) increased by 4.7 percent year-on-year in real terms for full-year 2018, the second consecutive annual rise. That was boosted by the revenue growth in the city’s gaming industry, the latest official data shows.

Mr Leong was speaking to local media on the sidelines of a Friday event.

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