Macau gambling regulator chief to step down this month

2 November 2015

Manuel Neves, head of the Macau Gaming Inspection and Coordination Bureau, is reportedly set to step down from his role this month.

According to the Reuters news agency, Neves has been in the role for 18 years and has said that he now wants to spend more time with his family.

His current term is due to end on November 25, with Reuters reporting that he will not run for an extended spell in office.

The news comes at a troubling time for the Macau gambling market, which has experienced 17 consecutive months of year-on-year revenue decline.

For the nine months through to September 30, revenue was down 36% on the previous year.

Macau last year posted gaming revenue of $44 billion (€39.8 billion), approximately four times more than turnover generated by the Nevada gambling market in the US.

Related article: Macau suffers further revenue losses in August