Macau’s gaming revenue for this year is expected to see a double-digit increase, the total of which will reach US$12.5 billion, said Lau Pun Lap, member of the Legislative Assembly.

He estimated that this year’s gaming revenue growth will be lower than last year, but as industry development keeps its momentum, a double-digit increase can be sustained this year.

Macau’s gross gaming revenue rose 46.6 percent last year to US$11 billion, which boosted the city to top Las Vegas as the world’s most lucrative gambling market.

Lau said as more casinos are put into operation in Macau, market competition will intensify this year and some of the casinos may be knocked out in the fight for market shares.

After the Ponte 16 Casino opened earlier in February, Macau now has 29 casinos.

Meanwhile, as Macau’s gaming market is susceptible to the global economy, a possible recession in U.S. economy, fluctuations of stock markets and rampant snowstorms in the Mainland that hurt the SAR’s tourism, will affect the local gaming market, therefore, the government and casino operators should be ready for such market risks, he added.

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