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Raquel Carvalho

Macau leader Dr Fernando Chui Sai-on has cushioned a stark warning that the city's gaming woes are far from over with a guarantee the livelihood of its people will not be affected.
"The gaming revenue drop will continue for some time, but that won't affect the population's lives," he said yesterday after his annual policy address.
In what he described as a "conservative prediction" Chui said he expected accumulated gross gaming revenues of 200 billion patacas in the coming year, or 16 billion patacas a month.
Total casino revenue last year declined to 351.5 billion patacas from 360.7 billion patacas in 2013. In October this year, revenue fell to 20.06 billion patacas from 28.03 billion patacas a year prior, marking the 17th successive monthly drop.
Macau: The rise and fall of an empire?
Chui announced no concrete measures to halt the slump in gaming revenue, but he noted Macau "industries will suffer further adjustment pressure" next year.
Gaming law expert Jorge Godinho said "there are limits for what the government can do".
"The sector is going through a transition period and what happens with the Chinese economy doesn't depend on Macau."
Although the government budget for next year is 30 per cent lower than this year - at 103.2 billion patacas - Chui said social welfare subsidies wouldn't be cut and some would even rise.
The cash-sharing scheme will continue, which means permanent residents will receive 9,000 patacas and non-permanent 4,500 patacas next year. The government plans to spend 11.7 million patacas on subsidies.
Public servants will see salaries go up 2.53 per cent.
"If you don't want people to go to the streets and protest, these are some of the measures that the government has to take," political commentator Larry So Man-yum said.
So said he was disappointed with the absence of concrete measures to solve housing issues faced by people in Macau.
Chui recognised home prices were still high, adding the government was considering a package to help young people to rent or buy a flat.
On transport, Chui announced a fourth bridge to link the Macau peninsula with Taipa.


Counting the cost? Macau leader tells public collapse in gaming revenue will not hit livelihoods

The new US$3.2 billion Macau Studio City casino and resort, owned by Melco Crown Entertainment Ltd., in Cotai, Macau opened at the end of October. The former Portuguese colony is experiencing one of its worst downturns as a result of Chinese President Xi Jinping's huge crackdown on corruption and luxury spending. Photo: EPA

Macau gambling revenue falls by 28.4 per cent in October

A motorcycle drives pass the Parisian Macao in Macau, Tuesday, Oct. 27, 2015. China’s world-beating gambling hub is getting a taste of Hollywood glamor as its newest casino resort makes its debut on Tuesday with a glitzy grand opening that hides turmoil behind the scenes. (AP Photo/Kin Cheung)

The Golden Reel ferris wheel, some 130 metres high, is seen between the hotel towers at Studio City in Macau, China as gambling revenue in the territory fell by 28.4 per cent in October. Photo: Reuters

Head of Macau gambling regulator Manuel Joaquim das Neves resigns amid turbulent times for gaming industry

Manuel Joaquim das Neves was director of the bureau for 18 years. Photo: David Wong

Neves' retirement next month comes as Macau suffers the impact of Beijing's anti-corruption drive, and faces new regulatory challenges after 16 consecutive months of declining gaming revenues. Photo: Reuters

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Counting the cost? Macau leader tells public collapse in gaming revenue will not hit livelihoods

.css-1mniedq{color:inherit;font-weight:inherit;font-size:inherit;font-family:inherit;line-height:inherit;}.css-jfmysa{display:inline;word-break:break-word;}.css-1ankfgb{cursor:pointer;display:inline;word-break:break-word;}Macau: The rise and fall of an empire?

Macau: The rise and fall of an empire?