Lionel Leong

    Lionel Leong is the Secretary of Economy and Finance of Macau, third most senior government official in Macau. He assumed office in December 20, 2014, and was preceeded by Francis Tam Pak Yuen.

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    Macau total expenditure to reach record high in 2018

    The Macau government is expecting total expenditure in 2018 to be more than MOP109.6 billion (US$13.6 billion), a 14.5 percent increase from the budget this year, local media reports. According to Macau News, the Secretary for Economy and Finance Lionel Leong Vai Tac, 2018 budget bill presentation, said that the rise in budgeted expenditure for […]

    Leong has high hopes for 2017 GGR

    Macau Secretary for Economy and Finance, Lionel Leong says he expects 2017 gaming revenue to be higher than previously forecasted, local media reports. Leong made the comments at a public event on Friday, adding that he estimates gross gaming revenue to see “positive double-digit growth” compared to last year’s results. According to a report from […]

    Macau losses at MOP11 billion over Hato

    Typhoon Hato, which struck Macau on August 23, is estimated to have caused around MOP 11.47 billion (US$1.4 billion) in economic losses, according to estimates from the government. The damage included MOP 3.3 billion in direct losses, and MOP 8.1 in indirect losses. The preliminary figures however did not include the potential losses of firms […]

    Macau vows to stay vigilant on AML

    Secretary for Economy and Finance Lionel Leong Vai Tac has vowed not to become complacent after being given a positive rating by the Asia Pacific Group on Money Laundering (APG) for its efforts in anti-money laundering, Macau News reports. At the sidelines of the opening ceremony of the Youth Career Expo 2017 on Saturday, Leong […]

    Operators increase security following RWM incident

    Macau’s casino operators have been asked to step up their security following the botched robbery at Resorts World Manila on Friday that left more than 30 dead, local media reports. On Sunday, an emergency meeting was held between Macau’s six concessionaires, the Gaming Inspection and Coordination Bureau (DICJ) and the Judiciary Police to discuss casino […]

    Review of concessionaires before 2020: Leong

    Secretary for Economy and Finance, Lionel Leong says the government’s review of its six casino gaming operators will be completed before 2020. The concessions of MGM China Holdings and SJM Holdings are due to expire in 2020, while the other four gaming operators’ concessions end 2022. According to the Government Information Bureau, Leong said the […]

    Withdrawal limit no impact on gaming: Leong

    The Secretary for Economy and Finance, Lionel Leong says the city’s new withdrawal limits for mainland bank cards would not have any impact on the gaming industry. Macau’s casinos stocks took a hit last week after SCMP reported that the Macau government was looking to cut the daily withdrawal limit from MOP 10,000 (US$1,251.9) to […]

    Melco Crown unveils new hotel brand Morpheus

    Melco Crown Entertainment Ltd. on Tuesday unveiled the new hotel brand created for the new fifth hotel tower at City of Dreams – Morpheus, named after the God of Dreams. The new luxury hotel is situated within the City of Dreams, in Cotai, Macau and is expected to commence operation in 2018. Lawrence Ho, chairman […]

    Looking likely to hit target: Leong

    Secretary for Economy and Finance Lionel Leong says the government is optimistic about reaching its MOP 200 billion ($25 billion) GGR goal for 2016. The secretary’s comments come days after the release of Macau’s October GGR results, which came in at MOP 21.8 billion, an 8.8 percent year-on-year increase. In an interview with Macao Daily […]

    DICJ to meet with gaming operators following Crown arrests

    Macau’s gaming regulator will soon be holding a meeting with its six gaming concessionaires following the arrest of 18 Crown Resorts staff in China, TDM reports. While the Secretary for Economy and Finance Lionel Leong has emphasized that no local operators are involved in the incident, he has warned casino firms that the government is […]

    Parisian to open with 410 gaming tables, says Wong

    The Parisian Macau – which opens its doors next week, will be opening with 410 gaming tables, says Sands China’s president and chief operating officer Wilfred Wong. Of the gaming tables, there will be a total of 49 for VIP gambling, said Wong, who was quoted in a report from Macau Daily News. Over the […]

    Sands’ new resort to bring a touch of Paris

    Sands China’s Parisian Macau is expected to bring “a touch of Paris” to the region, says Jesko Von Den Steinen, senior advisor for the Parisian Brand Identity. On the sidelines of the France Macau Business Association Breakfast Meeting last week, interviewed by Macau Daily Times, Steinen noted the Parisian’s unique architecture and quality of service […]

    Parisian Macau to receive 150 gaming tables

    Sand China’s newest development, The Parisian Macau has been given the same allocation as that of Wynn Palace – 150 total tables. The announcement was made by Macau’s Secretary of Economy and Finance, Lionel Leong over the weekend, according to a note from Union Gaming. Similar to that of Wynn Palace, the new development will […]

    Wynn Palace to get 150 tables: Lionel Leong

    Macau’s Secretary for Economy and Finance, Lionel Leong, today announced that the government will allocate 150 tables to Wynn Macau for Wynn Palace which is due to open on Aug. 22  this year. It will then be allocated 25 more tables next January and another 25 tables on January 1, 2018. This amounts to a […]

    Difficult to predict GGR: Leong

    Macau’s Secretary for Economy and Finance said it is difficult for the government to predict the city’s gaming revenue for the second half of 2016 given uncertainty and volatility in international markets. Lionel Leong told reporters on Friday that the government is paying close attention to the “L-shaped” growth of the international economy and the […]

    Lionel Leong stands by MOP 200 billion GGR forecast

    Macau Secretary for Economy and Finance, Lionel Leong has reiterated casino gross gaming revenue will reach MOP 200 billion at the end of the year, following the results of the first five months of 2016. The secretary made the comments after the opening ceremony of the Fourth Annual Conference of World Cultural Forum (Taihu, China), […]

    Gamblers use tech to overcome phone ban: Bloomberg

    Out of country “proxy” gamblers are already employing a workaround to navigate the phone ban that has been imposed on Macau’s VIP rooms, Bloomberg reports. Phone betting is the practice of an agent (junket) or third party placing a live wager in a VIP room on behalf of a client making a bet over a […]

    Macau junket association backs tighter regulations

    The Macao Junket Promoters and Cooperators Association says it backs the government’s intention to tighten junket regulation after the Dore incident but also called for more communication, TDM Macau reports. In a meeting with Secretary for Economy and Finance Lionel Leong, the  junket association discussed how the industry could deal with the new measures in […]

    Macau gaming promoters under legal supervision, says finance secretary

    The government is closely monitoring the gaming industry to ensure it operates legitimately and develops in accordance with the city’s vision of becoming a world centre of tourism and leisure, the secretary for economy and finance said. Leong Vai Tac said the government would step up efforts to fortify a healthy development for the gaming […]

    No need for further spending cuts in Macau says official

    Macau’s Secretary for Economy and Finance said the government is financially stable and sees no need to launch more measures to control expenditure. In a statement from the government’s information Bureau, Lionel Leong said the government is in no financial difficulty as there is more than MOP10 billion ($1.2 billion) of accumulated reserves according to […]

    Macau GGR in July not low enough to warrant austerity

    In light of July’s gross gaming revenue, Macau Secretary for Economy and Finance Lionel Leong said the figure is not low enough to warrant austerity measures. Macau’s gross gaming revenue in July was MOP18.61 billion ($2.3 billion) down 34.5 percent year-on-year, while the accumulated gross gaming revenue during the period from January to July was […]

    Macau may discuss austerity in August

    Macau’s Finance Secretary Lionel Leong said gaming revenue in July may drop to below MOP18 billion ($2.25 billion) which would prompt the government to consider austerity measures as early as next month. The government has said that should gaming revenues, which have been plummeting for more than a year now, fall even lower and lead […]

    Macau gov’t records surplus of MOP25 billion in first six months of 2015

     The Macau government recorded a surplus of MOP25.2 billion during the first six months of the year, higher than the target budgeted by the government for the whole year, but nevertheless a year-on-year decline of 58.3 percent. The figure, which exceeds the budget target of MOP18.8 billion for 2015, was brought down by declining gaming […]

    July should not warrant austerity measures says Lionel Leong

    The government is prepared to resort to austerity measures if July’s gaming revenue fails to reach MOP18.35 billion, though it will unlikely come to that, said the secretary for economy and finance. Lionel Leong said as July has tends to generate more revenue than June due to the inflow of tourists, the government and industry’s […]

    Lionel Leong says austerity measures in place if GGR falls too low

    Secretary for Economy and Finance Lionel Leong indicated that the government would formulate internal austerity measures if June gaming revenues fell to MOP15.7 billion ($2 billion), which would imply that the average monthly gaming revenues for the first six months of the year were lower than MOP20 billion.  Predicting June gaming revenues may drop 20 percent […]

    Macau finance secretary dismisses smoking room appeal

    Macau’s junket association appears to be running out of luck in appealing the impending smoking ban after the Secretary for Economy and Finance, Lionel Leong, dismissed requests for smoking rooms in VIP gaming areas. This rejection comes shortly after secretary Alexis Tam also asserted his position against the request in a meeting with the group […]

    Revenue likely to drop in 15H1, Lionel Leong

    Macau secretary for economy and finance Lionel Leong Vai Tac said yesterday that, according to gaming results data, gaming revenue in the first half of this year is likely to drop, following the trend of the second half of 2014.  Commenting on the fact that Macau’s gaming market has undergone large changes in the past […]

    Lionel Leong welcomes Suncity’s commitment to Macau laws

    Macau Secretary for Economy and Finance, Lionel Leong said he welcomed Suncity’s commitment to adhering to Macau’s legal standards, even in other jurisdictions, TDM Macau reports. Leong made the comments during a visit to Jiangsu Province after being asked to comment on the recent controversy surrounding the Macau licensed junket operator.  Leong said the government […]