The gaming sector was unsurprisingly the main growth driver for Macau’s gross domestic product in the first quarter of this year.
Official data released on Friday shows exports of gaming services posted a real growth rate of 13.0 percent in the first three months of this year in comparison with one year before. The city’s GDP expanded by 12.4 percent in real terms.
Gaming services reached MOP101.7 billion (US$12.7 billion) in nominal patacas (i.e., excluding inflation), while Macau’s overall GDP stood at MOP115.4 billion.
Gaming services are officially labelled as service exports, as they reflect expenditure made by visitors in the Macau market.
The ongoing construction of seven casino resort venues in Cotai also helped to push Macau’s GDP up, as it contributed significantly to a jump of 39.8 percent year-on-year in private investment during the first quarter.
While impressive by international standards, the real growth rate of Macau’s GDP for the first quarter represented a slowdown in quarter-on-quarter terms. In the fourth quarter of last year, the city’s economy grew 14.3 percent year-on-year.
Sep 17, 2021The act of a patron leaving their deposits with a Macau casino, via the respective VIP host or a junket, should still be legitimate as long as the deposit funds involved are used only for gambling,...
”We are moving rapidly as we execute on our strategy and the planned divestitures are well-progressed”
President and chief executive of casino equipment provider Scientific Games