Lionel Leong Vai-tac, Secretariat for Economy and Finance in Macau said on Thursday that June gaming revenues may be as much as 20% lower than those reported for May. June is historically a slow month for casinos in Macau, with July and August showing peaks in consumer participation.
The government has already been cutting costs and some non-essential services. However, further cuts will not effect social and medical services nor will the wealth-sharing scheme that puts cash disbursements into Macau citizen’s pocket be slashed, according to reports quoting the Secretary.
April reports in Asian media set the target for beginning new cuts in public spending at MOP18 billion in monthly revenue for the government. June could see government revenues fall to MOP16 billion. If numbers fall to that level it would mean that year on year for June revenues will fall more than 40%.
The Gross Gaming Revenue for the industry during the first five months of 2015 was 37% lower than the same period in 2014.