“We are all dependent on the marketplace. I think there’s a lot of global challenges going on and Macau is not separated from those challenges,” said Bowie in comments aired by public broadcaster TDM this week.
“We just have to be careful, very diligent and work hard to make sure that our customers see value from coming to Macau,” he added.
The city’s casino gross gaming revenue (GGR) tally for the first eight months of 2019 stood at US$24.5 billion, down 1.9% from the prior-year period, according to the latest available data released by Gaming Inspection and Coordination Bureau.
Investment analysts have said that Macau casinos have experienced a rough market in 2019, impacted by the U.S.-China trade war and choppy trends in the VIP business.
The Macau gaming market is expected to fare better next year as business is likely to improve, said Bowie. “I’m still very positive regarding 2020. I think when we get through all of these challenges and we have some clarity, and the business starts to improve, I think Macau gaming will continue to grow,” said the MGM China CEO.
Bowie said however that visitor arrivals in the remainder of the year might decline in year-on-year terms, as a number of official engagements are scheduled for the second half of the year to mark the 20th anniversary of the Macau Special Administrative Region.
More than 23.8 million visitor arrivals were recorded in Macau in the first seven months of 2019, a 20% increase from the prior-year period.
Source: GMB / GGR Asia
