Yokohama Mayor Fumiko Hayashi stated for the first time that should the city be forced to hold a referendum on IR development and lose the vote, she would respect the people’s decision and withdraw the city’s candidacy. Meanwhile, the city released estimates that the total economic benefit to the community from IR development would be an annual boost of JPY740 billion to JPY970 billion (US$9.2 billion).
Consolidation of the bases and advancement in adversity was the thrust of Macau Chief Executive’s policy address for 2021, though it gave little away when it came to the current pillar of the economy - the gaming industry.
Gaming suppliers, like all areas of the industry, have felt the pinch from the Covid-19 crisis, though their growing digital businesses have proved a bright spot and helped offset the impact of the crisis.
While nowhere in the world has escaped the economic fallout from the Covid-19 crisis, Macau has been hit harder than most, with forecasts for gross domestic product to shrink more than 50 percent this year.