between 70 and 88 per cent<\/a><\/em><\/strong>, with an average of 86 per cent.<\/p>\n\n\n\nAccumulated gross revenue for the first nine months of 2020 reached MOP 38.6 billion (US$4.84 billion), 82.5 per cent below that of the same period last year.<\/p>\n\n\n\n
The low numbers are not only affecting casino operators but also all of Macau\u2019s economy.\u00a0\u00a0<\/p>\n\n\n\n
On Thursday,\u00a0Chief Executive Ho\u00a0Iat\u00a0Seng said the government will have to make changes to the budget for 2020 for the third time due to the low tax collection from gaming.\u00a0<\/p>\n\n\n\n
Ho indicated that the city\u2019s overall income is still low and that it will be unable to fully recover until the end for the year, MNA reported.\u00a0\u00a0<\/p>\n\n\n\n
The government collected just MOP22.8 billion (US$2.85 billion) in gaming taxes in the first eight months of the year.\u00a0<\/p>\n","protected":false},"excerpt":{"rendered":"
Gross gaming revenues totalled\u00a0US$277 million for the month.<\/p>\n","protected":false},"author":2,"featured_media":10554,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"is_press_release":false,"is_interview":false,"is_opinion":false,"focusai_summary":"Macau's September GGR totalled US$277 million, representing a 90% year-on-year decline, despite a 66.2% month-on-month increase, falling below analyst expectations. This sustained revenue contraction, with accumulated GGR down 82.5% for the first nine months of 2020, has necessitated a third budget revision by the Macau government due to significantly reduced gaming tax collection. The economic impact extends beyond casino operators, affecting the broader regional economy.","focusai_entities":"Ho Iat Seng, Bloomberg","focusai_location":"Macau","focusai_target_profile":"ceo_executive (0.9), regulator (0.95), operator_casino (1.0), investor_analyst (1.0), supplier_vendor (0.75), journalist_researcher (0.9)","focusai_suggestions":[{"label":"IVS Impact Analysis","query":"What specific factors limited the expected GGR uplift from the Individual Visit Scheme's return in September, and what are the revised projections for Q4 2020 GGR in Macau?"},{"label":"Budgetary Adjustments","query":"Beyond the immediate budget revisions, what long-term fiscal strategies is the Macau government considering to mitigate its reliance on gaming tax revenues and promote economic diversification?"}],"footnotes":""},"categories":[16338,163,158],"tags":[12436,257],"class_list":["post-10552","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-east-asia-news","category-finance-news","category-slider-home","tag-casinos","tag-macau"],"_links":{"self":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/10552","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/comments?post=10552"}],"version-history":[{"count":3,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/10552\/revisions"}],"predecessor-version":[{"id":10556,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/10552\/revisions\/10556"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/media\/10554"}],"wp:attachment":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/media?parent=10552"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/categories?post=10552"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/tags?post=10552"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}