Macau’s new Secretary for Economy and Finance, Lei Wai Nong, says he is “cautiously optimistic” about the city’s economic prospects in 2020 after seeing mass market revenue overtake the VIP sector for the first time last year.

Gaming Inspection and Coordination (DICJ) figures released last week showed that Macau’s gross gaming revenue totaled MOP292.46 billion (US$36.50 billion) in 2019, down 3.4% year-on-year. The negative impact was primarily felt in the second half of the year, which saw year-on-year falls in five of the last six months including a 13.7% decline in GGR to MOP$22.84 billion (US$2.85 billion) in December.