Retendering21-22

 jun23 Macau will face a complex and severe stress test in the future as it continues to transition away from a gaming industry supported by mainland Chinese high-rollers, a recent university study has pointed out. According to a paper jointly compiled by three scholars from the Shanghai Cooperation Organisation Research Institute, the Shandong University, and the University of Macau – Edmund Sheng Li, Zhang Anning, and Yin Yechang, the city will have to address a number of social issues “neglected because of the illusion of ongoing prosperity” brought about by the gaming industry that experienced explosive growth following the city’s return to Chinese rule. These issues, as the ‘A city profile of Macau—The rise and fall of a casino city’ scholars pointed out, are associated with political transformation, livelihoods, governance, and urban planning. The economic recession that accompanied the Covid-19 pandemic, as well as Beijing’s push for an overhaul of the gaming sector, have made i

 jun23 None of Macau’s six gaming concessionaires have so far applied for a form of “exemption” from the full 40-percent tax rate on casino gross gaming revenue (GGR), as potentially applicable – under the new concession system – to gambling by foreign players. That is according to Lei Wai Nong (pictured, centre), Secretary for Economy and Finance, in response to a question from a member of the city’s Legislative Assembly this week. Secretary Lei confirmed that the six operators had established areas specially for gambling by foreigners, across an aggregate of  12 casino properties . https://www.ggrasia.com/no-macau-op-yet-asked-ggr-tax-rate-exemption-govt/

 may24 Umansky highlights the recent  expansion  of the Individual Visit Scheme ( IVS ) as a crucial development. ‘The IVS expansion, now covering 59 mainland Chinese cities, marks a significant step forward in facilitating travel for mid and high-end visitors,’ he notes. Moving away from the group visa scheme, this expansion simplifies the entry process, rendering Macau more accessible to a broader spectrum of travelers. Umansky emphasizes the flexibility afforded by IVS visas, which permit single entry with options for three-month or one-year validity, enabling visitors to return to Macau as desired. In addition to visa reforms, Umansky points to the recent visit of   Xia Baolong , Director of the Hong Kong and Macau Affairs Office of the Central Government, as a testament to China’s commitment to bolstering ties with Macau. Despite initial concerns about its potential impact on gross gaming revenue (GGR), historical data suggests that past visits have not led to abnormal fluctuation