Better than 2020, but still way down on 2019, the better-than-expected figures are largely due to relaxed border controls.
GGR
Central government gives Macao the green light for quarantine-free travel between Macao and Hong Kong, new developments to be announced soon.
News doubly welcome in wake of Suncity debacle, however, government still 40 per cent short of its MOP 130 billion gross gaming receipts target.
Poor casino revenues impacted by Covid-19 compel government to dig into Macao’s reserves for the third time this year.
Government has only collected about half the MOP 50 billion it predicted for gaming tax this year, plans to dip into financial reserves again.
This year’s GGR likely to reach only MOP 91 billion, about MOP 40 billion short of government target.
Although the increase is considerable compared to last year, it is still far from September 2019’s GGR of MOP 22.1 billion.
Covid-19 Delta cluster blamed for poor numbers; insiders suggest this year’s GGR will fail to meet government’s target.
Revenues show a great improvement over this time last year, but have a long way to go before catching up with the heady days of 2019.
