seems to be a slowdown<\/a> in VIP play in the fourth quarter.<\/p>\nCalls for Tax Reduction<\/b><\/h2>\n
The Macau Junket Association says Macau’s effective tax rate of 39 percent on GGR is far too high for the risk the VIP groups are required to take. Singapore taxes VIP gaming revenue at just 12 percent, and the Philippines levies a 15 percent tariff on foreign VIP play.<\/p>\n
The Macau government is in the process of reviewing all aspects of its gaming industry. The six casino concessions will soon expire, with MGM Resorts and SJM Holdings first in 2020. The permits for Las Vegas Sands, Wynn Resorts, Melco Resorts, and Galaxy Entertainment are scheduled to terminate in 2022.<\/p>\n
Chan says a junket regulatory amendment bill will soon be introduced, but he was short on specifics as to what changes it might entail. However, in the past officials at the gaming agency have said more stringent oversight should be expected.<\/strong><\/p>\nOne thought is that Macau will implement better audit controls to track the flow of money, something that Xi would presumably welcome.<\/p>\n","protected":false},"excerpt":{"rendered":"
The Macau government says the remaining junket companies catering to China’s mainland elite are playing a vital role in the resurgence of the enclave’s gaming industry, and are doing it while better adhering to the appropriate regulations than in years past. Macau\u2019s Gaming Inspection and Coordination Bureau Director Paulo Martins Chan said this week there’s […]<\/p>\n","protected":false},"author":25,"featured_media":92537,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[62,18,13592],"tags":[],"acf":[],"yoast_head":"\n
Macau Government Praises Junkets, Operators Request Tax Break<\/title>\n\n\n\n\n\n\n\n\n\n\n\n\t\n\t\n\t\n\n\n\n\n\n\t\n\t\n\t\n