Weaning Macao off the mainland gaming market will cost money. The government has suggested a figure of 235 million patacas.
Secretary for Economy and Finance
Around 3 million Hong Kong visitors expected by year’s end, less than half pre-pandemic annual total of 7 million.
Next year’s budget increases by five per cent but no salary increase for civil servants; Macao’s financial reserve in September down by 2.95% to MOP 562.9 billion.
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.
Government also plans to spend MOP 1.326 billion on subsidising business and residential water and electricity bills for a period of six months.
Some migrant workers hope to get incentives as a number of locals think non-resident workers should be included in this new round.
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.
Lawmaker Andrew Chan Chak Mo says only one more meeting required before first review of new bill is completed.
Concessionaires’ contributions to city’s development will stay the same; chief executive will have final say in ‘major’ financial decisions.
