According to authorities, gross gaming revenues next year will remain lower than 2019 numbers as the economic crisis persists.<\/p>\n\n\n\n\n\n\n\n
Macau.- The SAR has forecast that casino gross gaming revenue (GGR) for 2021 might only reach MOP130 billion (US$16.28 billion). That’s 44.5 per cent\u00a0of 2019\u2032s MOP292.5 billion. <\/p>\n\n\n\n
The government attributes the scenario to the current economic conditions, which are likely to persist. According to the document that presents the city’s budget proposal for the fiscal year 2021, “the recovery will take time”.<\/p>\n\n\n\n
The city\u2019s budget proposals are typically conservative when forecasting the community\u2019s aggregate take from gambling operations in the following 12 months.<\/p>\n\n\n\n
The 2021 budget plan, which will be debated in the city\u2019s Legislative Assembly soon, said that Macau\u2019s take from gaming tax proper, levied at 35 per cent of gross gaming revenue (GGR), is expected to reach MOP45.5 billion for the fiscal year 2021. <\/p>\n\n\n\n
Other charges levied on GGR take the effective local tax rate on gaming to nearly 40 per cent, although the difference is not reflected in the city\u2019s fiscal budget.<\/p>\n\n\n\n
Authorities said the city faced a risk of structural fiscal deficit, as Macau has a narrow tax base and increasing expenses but no rise in income.<\/p>\n\n\n\n
The budget proposal says the city needed to draw MOP26.58 billion from its fiscal reserve to sustain a fiscal balance.<\/p>\n","protected":false},"excerpt":{"rendered":"
According to authorities, gross gaming revenues next year will remain lower than 2019 numbers as the economic crisis persists.<\/p>\n","protected":false},"author":2,"featured_media":11450,"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 authorities project 2021 gross gaming revenue (GGR) to reach MOP130 billion (US$16.28 billion), representing only 44.5% of 2019 levels, attributing the decline to persistent economic conditions. This conservative forecast, detailed in the 2021 budget proposal, anticipates MOP45.5 billion in gaming tax revenue and highlights a structural fiscal deficit risk, necessitating a MOP26.58 billion draw from fiscal reserves.","focusai_entities":"Macau, Legislative Assembly","focusai_location":"Macau","focusai_target_profile":"ceo_executive (0.95), regulator (0.98), operator_casino (1.0), marketing_crm (0.75), investor_analyst (1.0), supplier_vendor (0.85), journalist_researcher (0.98)","focusai_suggestions":[{"label":"GGR Impact on Concessionaires?","query":"How will the projected MOP130 billion GGR for 2021 specifically impact the capital expenditure plans and dividend policies of Macau's concessionaires?"},{"label":"Fiscal Deficit Mitigation?","query":"What specific fiscal policy adjustments or revenue diversification strategies is the Macau SAR government considering to mitigate the identified structural fiscal deficit risk beyond drawing from reserves?"}],"footnotes":""},"categories":[160,16338,163,158],"tags":[12436,725,257],"class_list":["post-11447","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-asia-pacific","category-east-asia-news","category-finance-news","category-slider-home","tag-casinos","tag-ggr","tag-macau"],"_links":{"self":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/11447","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=11447"}],"version-history":[{"count":3,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/11447\/revisions"}],"predecessor-version":[{"id":11462,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/11447\/revisions\/11462"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/media\/11450"}],"wp:attachment":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/media?parent=11447"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/categories?post=11447"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/tags?post=11447"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}