Report concludes Macao needs to build a stronger economy with new growth engines through economic diversification.
Business
Higher costs of transport and services countered by cheaper prices for recreation, culture and communications, DSEC reports.
Table games, slots and other games of chance generated MOP 34.7 billion in 2021, compared to VIP baccarat’s MOP 28.4 billion.
Junket operations curtailed, government officials will inspect every three years, and threat to national security can lead to licence being cancelled.
Woman surnamed Ho refused to cooperate with police; junket group founder Alvin Chau Cheok-wa remains in Coloane prison awaiting trial.
All six operators united in their appreciation of the proposed changes, undertake to cooperate fully with the government.
Concessions cut to 10 years, leasing space to junkets banned, gross gaming revenue tax rate stays at 35 per cent.
Changes likely to have significant effect on the gaming industry which is Macao’s financial mainstay.
Better than 2020, but still way down on 2019, the better-than-expected figures are largely due to relaxed border controls.