Operator News
China – No tax breaks for floored Macau casino sector
By Phil - 6 March 2020
Lei Wai Nong, Macau’s Secretary for Economy and Finance, has confirmed there will be no tax breaks for the region’s casino operator in wake of the casino sector’s closure following the coronavirus outbreak.
He said: “The gaming industry has had a good time in the past. In accordance with the current gaming law and regulations, gaming operators have to pay several taxes. Thus tax concession for the gaming industry is related to relevant law amendments. We don’t have this kind of intention at this moment.”
SJM Holdings’ Vice-Chairman, Executive Director and CEO Ambrose So Shu Fai had asked for gaming taxes to be reduced following a near 90 per cent downturn in revenues in February.
But Mr. Lei added: “Once the situations in Macau and cities nearby are stabilised, I believe that tourists will come back soon. Macau will recover soon. Therefore Macau has to do our best in preventive measures for not only our citizens, but also to show tourists that we are safe.”
