Macau to target 40 nongaming revenue MGTO Director

first_img Load More Macau’s integrated resort industry should be aiming for non-gaming to contribute 40% of all revenue, according to the Director of the Macao Government Tourism Office (MGTO), Maria Helena de Senna Fernandes.The ambitious number was mentioned during a high-powered panel discussion at G2E Asia on Wednesday featuring de Senna Fernandes, Sands China President and executive director Wilfred Wong and Wynn Resorts non-executive Chairman Allan Zeman discussing the transformation of Macau into Asia’s gaming and entertainment hub. Wynn Resorts to undergo internal restructure as part of refinancing plan Wynn Resorts shares favored over Wynn Macau: analysts Imperial Pacific adds to Board of Directors as regulator looks to impose US$375,000 fine for late license fee payment RelatedPosts “Whatever the mix is going forward there has to be a balance for the operators and I don’t think Macau can reasonably expect to reach 60% like Las Vegas, but I think 40% non-gaming is the goal in the mid-term,” the MGTO Director said.“Going forward there are a lot of possibilities.”The contribution of non-gaming revenue has gradually climbed in recent years but still has a long way to go to reach 40%. The government’s official Five-Year Development Plan for 2016 to 2020 stipulates a minimum non-gaming contribution of just 9%, with non-gaming in the previous year, 2015, having accounted for only marginally more than that threshold at 9.39%. Non-gaming revenue in 2017 was around 12%.“Gaming is still going to play a very important role moving forward,” de Senna Hernandes said. “But I think the focus is on developing the MICE and creative industries. I’d like to see more balance between gaming and non-gaming.”Wong said he was confident that Macau was headed in the right direction in broadening its non-gaming attractions and agreed the emphases should be on MICE, but added, “We have to solve some questions first.“Where do the people in the service industry come from?” he said. “We’re working with the government right now to solve that problem.“Second, how do you promote Macau to the world? Right now Macau is still seen as a gaming destination so we need to promote IRs instead and all that they have to offer.”last_img

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