According to reports, the government in the casino-heavy Macau region warned of no immediate end to the ongoing shortage of local game taxes due to the coronavirus pandemic.

The revelations come at a legislative council meeting convened to revise the city's ongoing annual budget as casino pools begin to partially reopen after a two-week lockdown due to the coronavirus pandemic, according to a Thursday report by Inside Asian Gaming. Sources said the previous Portuguese residence had forecast to collect about $6.15 billion in total taxes in 2022 from gambling, but added that the latest first-quarter figure was down 4.8% year-over-year to about $1.08 billion.

Critical mission:

Macau is home to some of the world's largest and most famous gambling venues, including SJM Holdings Limited' iconic casino Grand Lisboa and Melco Resorts and Entertainment Limited's $3.2 billion Studio City Macau. All of these businesses will reportedly have to pay a 35% gross gaming revenue tax on all live dealer tables, game consoles and VIP rooms they operate to increase their validity by approximately 39%.

Recent raids:

In response to this persistent tax slump, Lei Wai Nong, Macau's economy and finance minister, has reportedly disclosed that local governments have used nearly $1.81 billion in reserves this year to alleviate ongoing financial shortages. The figure declared that his administration expects to roll out $1.23 billion in financial aid packages 'multiple times' as the city is reportedly struggling with the economic downturn caused by the coronavirus.

It's said that Ray pronounced it…

"The government has spent $4.34 billion in financial reserves, about $1.81 billion of which is to cover the shortfall in Macao's special game tax collection, and another $1.23 billion to provide financial support."

Inside Asian Gaming reported that at a legislative council meeting, numerous regional representatives saw the government question whether the government's financial aid program actually benefits local residents. One of them, Jose Maria Pereira Coutinho, said the enclave's population is reportedly "behaving very well" and has faithfully followed official rules against the coronavirus, but at the same time is struggling with "zero deposits."슬롯사이트

Pessimistic predictions:

In response, Ray reportedly claimed that the Macau government's coronavirus-related financial aid package targets "employees and businesses" and that Macau City's current reserves amount to about $68.92 billion.