The Macau government’s income from gross gaming revenue taxes fell 12.1% year-on-year to MOP 17.23 billion (US$2.15 billion) in the first two months of the year.
Business
Macau’s overall residential property price index for November 2019-January 2020 dropped 0.9% over the previous survey period (October-December 2019).
The government expected a budget deficit of over 40 billion patacas for this year due to the adverse impact of the COVID-19 epidemic on the local economy.
The Macau Monetary Authority (AMCM) lowered its base rate (BR) of the discount window by 50 basis points to 1.50%.
The organiser of the annual gaming expo G2E Asia announced on Tuesday the event’s postponement from May 19-21 to July 28-30 at the Venetian in Cotai in response to the novel coronavirus epidemic.
Macau gaming operator MGM has announced further measures to assist small- and medium-sized enterprises (SMEs) in coping with the adverse impact of the COVID-19 epidemic.
Macau’s gross gaming revenues fell 87.8% year-on-year to MOP 3.1 billion last month.
Macau’s gross domestic product shrank 4.7% in real terms last year, the Statistics and Census Bureau (DSEC) announced on Saturday.
Macau’s international banking assets rose 12.7 per cent year-on-year to 1.71 trillion patacas (US$214 billion) at the end of last year.