The government of Macau, the special administrative region of China, has today announced its revised gaming tax collection to almost fifty percent compared with the previous year.
The revised expected budget is based on how much tax is generated from the gaming industry in the region. However, due to the ongoing Covid-19 pandemic, the gambling capital of the world has witnessed catastrophic decline in tourism, visitor numbers and revenue.
In light of this, officials in the SAR have revised its figures of collected tax from gaming to less than six and a half billion dollars.
Macau is heavily reliant on visitors and gambling revenue and the region has suffered the impact of current Coronavirus crisis with gross gaming revenue falling by more than ninety percent last month.
In the first four months of 2020, the Macau government has collected 47 percent less tax revenue than the same period in 2019.
Although the majority of gaming establishments have re-opened in Macau, travel is still heavily restricted from both local and international hotspots and visitor numbers are still down a considerable amount.
Many casinos in Macau have resumed operation 24 hours a day, including: Casino Lisboa, Grandview Casino, Jai Alai Casino, Sands Macao, MGM Macau, Wynn Macau and Ponte 16 among others.
The news comes just hours after health professionals stated that the Macau government would continue fighting Covid-19 routinely. Michael Ryan of the World Health Organisation said: “It is important to put this on the table, this virus may become just another endemic virus in our communities, and this virus may never go away. HIV has not gone away, but we have come to terms with the virus. I think it is important we are realistic and I don’t think anyone can predict when this disease will disappear. I think there are no promises in this and there are no dates. This disease may settle into a long problem, or it may not be.”