Macau expects GGR for 2021 to reach 16bn

Macau authorities estimate gross gaming revenue (GGR) for the region will reach MOP130bn ($16

Macau authorities estimate porcine gaming revenue (GGR) for the realm will reaching MOP130bn ($16.2bn) inwards 2021, despite lacklustre figures for the for the first time half of the year.

Macau’s Secretary for Economy and Finance, Lei Wai Nong, has admitted cassino GGR was 25% less than predicted inwards H1, reaching closemouthed to MOP49m.

The figure, however, was based on eased go 'tween Macau and Hong Kong, a contrive which continues to face hurdles.

The Government hopes the upcoming Golden Week, starting 1 October, testament provide a much-needed boost. “We have summertime holidays, the National Clarence Day Golden Week, the Grand Prix inwards November, positive Dec – traditionally a time when people vacation,” said the Secretary.

Angus Chan Chi-lap, lead of Hong Kong strategy, has stated that mass-market customers would likely wallop cassino profits the most, as even at pre-pandemic times they contributed more than 80% to EBITDA.

The expert also believes Macau would extend the current concession for at least II years, still if the Government of late stated it has no plans for extensions.

At the same time, Macau is sounding to amend its gaming manufacture laws. The critical review should include a finisher look at sub-concessions, registration issues for some of the properties, and even the “astronomical time value of undischarged chips”, as quoted past Asia Gaming Brief.

The public interview would likely follow launched at the remainder of the year. Back in spring, legislators asked for the audience to submit localize mid-August at the latest, to yield them more clip to deliberate possible legislative changes.

Both the public interview and the reviewed gaming jurisprudence will likely wallop electric current and future tense gaming licences inward Macau.