Potential annual gaming revenue targets for Macau casinos
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Macau is considering licensing six new casino concessionaires. The government of Macau may require them to meet minimum annual gross gaming revenue targets. If they don't meet them, they will be fined.
Macau is home to over 40 casinos operated by SJM Holdings Limited, Galaxy Entertainment Group Limited and Melco Resorts and Entertainment Limited. Every one of these companies is expected to have their licenses renewed from June for an additional ten-year period.
GGRAsia reports that licensed casino operators in Macau falling short of their annual gross gaming revenue targets in the future could be required to forfeit a premium.
Macau has some of the world's largest and most famous gambling venues. They are charged a 35% gross gaming revenues tax. The government recently revealed that it has no plans to increase this regime. It will look to utilize fines and potential forfeitures to keep its coffers full in the wake of coronavirus pandemic.
Macau's gross gaming revenues for 2021 are expected to be slightly over $10.81 billion. This figure is 79.3% down on 2019's total of $36.44 billion, which was due to the impact of the pandemic and VIP gaming receipts.
