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2023 Casino GGR in Macau is Estimated to Be $16 Billion
Last updated on November 6th, 2022 at 01:52 am
The government estimated the 2023 casino GGR in Macau to hit $126 billion. It is based on the budget proposal released last Friday. However, the government expects a fiscal deficit despite the aggregate income of MOP69.5 billion. As a result, Macau authorities set aside MOP36 billion to cover the budget deficit.
According to the Office of the Chief Executive’s 2023 budget plan, the tourism industry would profit from the gradual return of package tours from mainland China. In addition, they will get more revenue from electronic issue of travel permits.
According to pay per head sportsbook sources, the Macau government has not yet released an update to its initial projection for the city’s casino gross gaming revenue for 2022, which was likewise MOP130 billion. As a result, the GGR total for the nine months ending on October 31 was MOP35.7 billion. On the other hand, Macau got around MOP72.2 billion for the same time in 2021.
2023 Casino GGR in Macau
From an earlier prediction of slightly under MOP49.76 billion, Macau reduced its expectation for gaming tax for the entire year 2022 to MOP34.37 billion. Authorities estimated direct gaming taxes to bring in MOP45.5 billion for the government in 2023.
The most recent budget proposal identified macroeconomic difficulties for 2023.
According to the best pay per head bookie provider, the article said that the modified legal framework for the operation of games of chance or chance in casinos has also been put into effect. Moreover, the new casino concessionaires would develop and market non-gaming components the following year. Thus, it would create new potential income sources in the integrated tourist industry.
That referred to the current public bidding procedure for up to six new gaming concessions. Also, each concession will have a 10-year term in the city. So bookie marketing tips will not help the casinos unless they procure a new license to operate in the city.
“These favorable aspects can progressively lessen the adverse effects and uncertainties of the [Covid-19] pandemic and encourage Macau’s economy to be sustainable in a healthy way,” the statement continued.
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