Ho Iat Seng, the governor of Macau refused to lower taxes for land based and online casinos on the countries.
After the covid-19 pandemic that started in China, the country has been facing major losses on gambling. It doesn’t really affect just the land based casinos, but also the online casinos that operate on the territory. Studies made concluded that most people are avoiding gambling online so they could save up money.
A reason for this reaction from the gamblers is not just the risk of losing money, but also the fact that people don’t have that much money to bet on casino games.
According to some census, it is reported that around 30% of the population lost, or is in risk of losing their jobs. All this due to the covid-19 that stopped the entire country (and the world) for almost 3 months now.
The governor also claimed in a press interview that “the tourism and gaming sectors are the most affected sectors from this pandemic that hit macau”. The solution Mr.Seng presented was to re-open tourism in the area by giving away tourist visas to casino players.
Remember that Macau is well known as the Las Vegas of Asia. Many people travel to the country to play their table casino games and the world famous slot machines.
With this new plan to attract more tourists, the government believes that more people will visit Macau, improving economy, raising jobs and so also raise the online casino business. According to studies, there is no need to lower taxes for online casinos, as the solution is to raise employment rate, so people can spend more.
In other news, many other online casino operators worldwide also claim losing money in the industry to to the same factors. There is also a reported problem with sports betting, because as there are no games or matches, people have no teams to place their bets on.
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