Macau is considering austerity measures amidst predictions that gaming revenues will not meet the government’s target for July.
The Macau Business Daily reported Secretary for Economy and Finance Lionel Leong expects the city’s gaming revenues will fall short of MOP18 billion ($2.25 billion) in July, saying “it will be necessary for us to conduct austerity measures.”
The government has set a target of MOP18.35 billion for July, but if it’s not met, Leong said he will have to meet with Chief Executive Fernando Chui Sai On and talk about tightening measures for August.
Leong said the city’s gaming revenues for July has always been MOP1 billion higher than June, but that pattern did not happen this year. Still, the finance secretary is positive that the summer vacations at the end of the month will encourage arrivals in the city.