Macau pawnshops concerned about satellite casino closures
The Macau Pawnshop Merchants Association says one in four shops could close.
Macau.- The closure of Macau’s satellite casinos at the end of the year is causing concerns for pawnshops. Alexander Leung, president of the Macau Pawnshop Merchants Association, says one in four is at risk of closing.
Most satellite casinos, including Casa Real, Fortuna, and Landmark, are to close by the end of the year. Leung told TDM Radio Macau that pawnshops were already struggling after the Covid-19 pandemic due to changing tourism trends and high rents. There are around 100 pawnshops in Macau, many around key zones like ZAPE and NAPE.
The Macau SAR Government has announced revitalisation measures, including intellectual property-themed community projects and targeted tourism incentives. However, Leung says pawnshops, viewed by the government as high-risk for money laundering, have been ignored. “We have low expectations,” he said.
