Good Morning. The University of Macau forecasts a contraction of the economy by up to 29.2 percent as local society sees “no clear prospects.” On a more positive note, the MGTO hopes Macau will receive up to 25,000 daily visitors during the PRC National Day Golden Week!
In observance of local holidays, your daily Asia Gaming eBrief will return to your inbox on Wednesday 5th of October. Enjoy the break!
What you need to know
- University of Macau Study forecasts a contraction of the economy by up to 29.2 percent as local society sees “no clear prospects.”
- PAGCOR clarified that recent arrests, and repatriations, from the illegal online gaming crackdown are not related to legitimate POGOs.
On the radar
- Cambodian PM calls on local authorities to crackdown on illegal gambling.
- Angel Playing Cards buys back sold inventory from Imperial Pacific.
- Macau Legend optimistic in positioning for potential Macau rebound.
- LET Group – AKA Suncity – focus to remain on ASEAN markets.
The University of Macau Center for Macau Studies and the Department of Economics forecast that the local economy is likely to contract between 26.4 to 29.2 percent for the 2022 fiscal year. “Without tourism revenue, Macao’s economy may not be able to develop normally,” the University of Macau Study underlines. In turn, the study argues that measures deployed by the Government cannot replace the incomes earned by the enterprises and citizens through normal market transactions. “Due to the constraints of internal and external conditions, especially how to establish a set of prevention and control policies suitable for Macau, the society continues to see no clear prospects, effective economic recovery may be a long way off,” the Macau Center for Macau Studies and Department of Economics report cautions.
- SJM appoints Daisy Ho as Managing Director.
- GLI bringing world-class compliance to G2E Las Vegas.
- Gary Platt brings unsurpassed comfort to G2E Las Vegas.