Good morning. Massive weekend for Macau. Years of lead time in the making, the Macau government revealed its plan to live with covid – infected patients can go to work but inbound flight quarantine is still in effect. In other news, after months of negotiations with the incumbent concessionaires, the Macau government has suggested a novel approach to diversification, demanding operators develop a separate infrastructure for non-Chinese players, a segment that yields less than marginal revenue in return for a 5 percent tax cut.
Elsewhere, Venetian employees are taking a Christmas bonus home and Thailand hits its tourism target.
Have a great week ahead!
What you need to know
- Macau gaming concessionaires to create foreigner-only gaming rooms and chips and be eligible for a waiver on the 5% tax on the revenue generated.
- The Star has been hit with a $67.98 million fine and deferred suspension of its Queensland casino licenses after investigations by state authorities.
On the radar
- Macau reverts to home isolation but maintains quarantine for inbounds.
After months of negotiations with the incumbent concessionaires, the Macau government has introduced a novel approach to diversification – demanding operators develop a separate infrastructure for a segment that yields less than marginal revenue in return for a 5 percent tax cut. The overall gaming tax in place on operators will continue at 40 percent. Foreigner-only rooms would function just like a VIP room, but for foreign players only. Estimates of foreign player gaming revenue at just 3.58 percent of total GGR in 2019, or roughly $10.46 billion. The measure would come into effect on January 1st, when the new six gaming concessions re-start.
- BtoBet strengthens senior team, names Freddie Bowring VP of Sales.