Macau – It has been reported today that the Secretary for Economy and Finance in Macau; Lei Wai Nong, has stated that there are no plans to adjust current operations in the special administrative region of China despite a consistent decline in activity and visitor numbers due to the Covid-19 pandemic.
The SAR has also stated that it plans to ask mainland China to restart visa issuing procedures under the Individual Visit Scheme as soon as the current coronavirus pandemic is over.
Lei Wai Nong stated:
“The government does not have a plan to adjust the current operations on casinos… because the gaming industry is not only providing services, but also guarantees the employment of over 58,000 employees.
The civil servant since 1992 continued to expand on the measures currently in place and what action is being taken to ensure employee retention along with gaming operation:
“Macau and the mainland is working hard on preventative measures. Once the situation of the epidemic is eased, the SAR government will ask the central government to resume the IVS. The six gaming concessionaires have still made their commitment to sustain employment during this difficult time. We have to tide over this time together but I believe our persistence will be worth it.”
The statement comes just hours after expert analysts in Macau are making predictions with regards to gross gaming revenue figures for the month of April, which are estimated to be worse than the previously record lows of February and March.
Although the majority of gaming establishments in Macau have resumed business activities, casino tables and premises remain empty, resulting in huge drops in revenue in March and February of almost 80% and near 90% respectively.
For the first quarter of this year, gross gaming revenue is down more than half with a recovery unlikely any time soon.
Reportedly, shares in all of the major Macau gaming establishments are down between 40%-65%.