Macau's leader warns world's biggest gambling hub could face a budget deficit

Reuters - 16/04
The leader of Macau said the enclave risks slipping into a budget deficit if gambling revenues in the world's biggest gambling hub drop below 15 billion patacas ($1.88 billion) a month after they fell short of government forecasts in the first quarter. Chief Executive Sam Hou Fai made the comments on Tuesday to local legislators, according to a government statement.
HONG KONG, April 16 (Reuters) - The leader of Macau said the enclave risks slipping into a budget deficit if gambling revenues in the world's biggest gambling hub drop below 15 billion patacas ($1.88 billion) a month after they fell short of government forecasts in the first quarter. Chief Executive Sam Hou Fai made the comments on Tuesday to local legislators, according to a government statement.
"If subsequent gaming revenues still do not meet the target, the Government will face a budget deficit," he said, according to the statement.

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Macau is a special administrative region of China and is the only place where Chinese citizens are legally allowed to gamble in casinos.
A Portuguese colony until 1999, its economy is heavily reliant on its casino industry which contributes about 80% of the government'...
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