Workers who once earned MOP 20,000 monthly now scraping by, suffering from depression and contemplating selling off their assets.
Macao gaming
Proposals include increasing junket operators’ capital to MOP 10 million and up to five years’ imprisonment for illegal deposit taking; bill should pass by 15 August.
Gaming tycoon and political bigwig demands practical help for gaming industry, warns that failing Macao economy will adversely affect One Country, Two Systems.
Chief Executive laments Macao continues to suffer the effects of Covid-19 and poor visitor numbers, rising unemployment and declining birth rate.
Major industry players step back in the run-up to new laws which aim to clean up gaming and protect Macao’s image as an international leisure destination.
Troubled junket operation, whose former boss Alvin Chau is in custody, ceases travel business which had made up around 12% of its total revenue.
Numerous Covid-19 outbreaks in mainland China and lockdowns take a toll on the city’s gaming industry and government coffers.
Taking illegal deposits could land offenders in prison for up to five years, once Legislative Assembly passes proposed bill.
Lawmaker Andrew Chan Chak Mo says committee has finished its fine-tooth comb review of new gaming bill, final text expected by third week of April.