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The extension allows for more time to conduct the highly anticipated concession rebidding procedure in the Chinese special administrative region (SAR). While most anticipate the same six operators to retain their licenses, Macau has left the door open to change.<\/p>\n<\/div>\n
Wynn Macau, Sands China, MGM China, Melco Resorts, SJM Holdings, and Galaxy Entertainment already filed for the extension. Each comes at a cost of $6 million, the result of the government’s delays in introducing the updated gambling laws.<\/p>\n
Macau’s casinos took in $36.5 billion in 2019, more than six times the amount of Las Vegas. However, the COVID-19 pandemic and travel restrictions in Asia impacted the casinos greatly. As a result, in 2020, GGR was virtually nonexistent on a few occasions.<\/strong><\/p>\nChina isn’t thrilled about the SAR’s dependence on gambling. As such, it has yet to indicate how Macau might carry out the license rebidding process.<\/p>\n","protected":false},"excerpt":{"rendered":"
As Macau updates its gambling laws, a draft version of the bill included a gross gaming revenue (GGR) tax of “up to” 40%. Now, in the latest version, any ambiguity is gone, as the current phrase is “equal to” 40%. The latest draft of Macau’s gaming laws sets the tax on GGR at 40%, according […]<\/p>\n","protected":false},"author":64,"featured_media":217373,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[69069,13],"tags":[],"acf":[],"yoast_head":"\n
Macau Wants 40% GGR on Casino Revenue, but Offers Path to Reduce Cut - Casino.org<\/title>\n\n\n\n\n\n\n\n\n\n\n\n\n\t\n\t\n\t\n\n\n\n\n\n\t\n\t\n\t\n