{"id":379,"date":"2019-11-25T00:00:00","date_gmt":"2019-11-25T00:00:00","guid":{"rendered":"https:\/\/gbc.ng\/gaming-in-macau-produces-50-pct-of-its-gdp\/"},"modified":"2019-11-25T00:00:00","modified_gmt":"2019-11-25T00:00:00","slug":"gaming-in-macau-produces-50-pct-of-its-gdp","status":"publish","type":"post","link":"https:\/\/gbc.ng\/index.php\/gaming-in-macau-produces-50-pct-of-its-gdp\/","title":{"rendered":"GAMING IN MACAU PRODUCES 50 PCT OF ITS GDP"},"content":{"rendered":"<p style=\"background: white; margin: 0in 0in 15.0pt 0in;\"><span style=\"font-size: 13.5pt; font-family: 'Arial','sans-serif'; color: #1d2f5f; letter-spacing: .25pt;\">The gaming industry in Macau continues to be a key factor of its economic development and produced 50.5% of its gross domestic product (GDP).<\/span><\/p>\n<p style=\"background: white; margin: 0in 0in 15.0pt 0in;\"><span style=\"font-size: 13.5pt; font-family: 'Arial','sans-serif'; color: #1d2f5f; letter-spacing: .25pt;\">Macau.- The Statistics and Census Bureau (DSEC) revealed casinos and junkets produced 50.5% of Macau gross domestic product (GDP). The figure involves GDP at producers\u2019 prices, in which gaming in Macau has now a 1.5% higher share.<\/span><\/p>\n<p style=\"background: white; margin: 0in 0in 15.0pt 0in;\"><span style=\"font-size: 13.5pt; font-family: 'Arial','sans-serif'; color: #1d2f5f; letter-spacing: .25pt;\">The report shows gross value added (GVA) at current prices in the segment jumped 10% in real terms year-on-year. In 2018, it reached \u20ac24.7 billion.<\/span><\/p>\n<p style=\"background: white; margin: 0in 0in 15.0pt 0in;\"><strong><span style=\"font-size: 13.5pt; font-family: 'Arial','sans-serif'; color: #1d2f5f; letter-spacing: .25pt;\">Macau\u2019s 2020 budget<\/span><\/strong><\/p>\n<p style=\"background: white; margin: 0in 0in 15.0pt 0in;\"><span style=\"font-size: 13.5pt; font-family: 'Arial','sans-serif'; color: #1d2f5f; letter-spacing: .25pt;\">The Macau Legislative Assembly\u00a0<\/span><b><i><span style=\"font-size: 13.5pt; font-family: 'Arial','sans-serif'; color: #1d2f5f; letter-spacing: .25pt;\">approved<\/span><\/i><\/b><span style=\"font-size: 13.5pt; font-family: 'Arial','sans-serif'; color: #1d2f5f; letter-spacing: .25pt;\">\u00a0on Sunday the budget for 2020, and gambling will contribute with most of its revenue. The budget balance for 2020, which was approved unanimously, has been set to \u20ac2.4 billion.<\/span><\/p>\n<p style=\"background: white; margin: 0in 0in 15.0pt 0in;\"><span style=\"font-size: 13.5pt; font-family: 'Arial','sans-serif'; color: #1d2f5f; letter-spacing: .25pt;\">As reported by\u00a0<\/span><em><b><span style=\"font-family: 'Arial','sans-serif'; color: #1d2f5f; letter-spacing: .25pt; text-decoration: none; text-underline: none;\">Macau Business<\/span><\/b><\/em><span style=\"font-size: 13.5pt; font-family: 'Arial','sans-serif'; color: #1d2f5f; letter-spacing: .25pt;\">, the local government wants the Integrated Ordinary Budget revenues to reach \u20ac13.6 billion by 2020. That figure would represent a 0.3% rise from the year-end forecast that the Economy and Finance Secretary Lionel Leong had reported before the 2020 budget vote.<\/span><\/p>\n<p style=\"background: white; margin: 0in 0in 15.0pt 0in;\"><span style=\"font-size: 13.5pt; font-family: 'Arial','sans-serif'; color: #1d2f5f; letter-spacing: .25pt;\">The gambling industry is still the most important force for the local economy. The government is likely to collect \u20ac10.1 billion in Special Gambling Tax or around 74.5 % of total revenues.<\/span><\/p>\n<p style=\"background: white; margin: 0in 0in 15.0pt 0in;\"><span style=\"font-size: 13.5pt; font-family: 'Arial','sans-serif'; color: #1d2f5f; letter-spacing: .25pt;\">Leong said that gambling tax revenues for 2020 are similar to the ones from this year. \u201cThis amount is the result of a calculation based on estimates of gross gambling annual revenues of \u20ac29.1 billion,\u201d he said.<\/span><\/p>\n<p class=\"author__bio\" itemprop=\"description\">\n<p class=\"comment-form-comment\"><label class=\"show-on-ie8\" for=\"comment\">Comment<\/label><br \/>\n<textarea aria-required=\"true\" cols=\"45\" id=\"comment\" name=\"comment\" placeholder=\"Message\" rows=\"8\"><\/textarea><\/p>\n<p class=\"comment-form-author\"><label class=\"show-on-ie8\" for=\"author\">Name<\/label><input aria-required=\"true\" id=\"author\" name=\"author\" placeholder=\"Name...\" size=\"30\" type=\"text\" value=\"\"\/><\/p>\n<p class=\"comment-form-email\"><label class=\"show-on-ie8\" for=\"name\">Email<\/label><input aria-required=\"true\" id=\"email\" name=\"email\" placeholder=\"Email...\" size=\"30\" type=\"text\" value=\"\"\/><\/p>\n<p class=\"comment-form-url\"><label class=\"show-on-ie8\" for=\"url\">Url<\/label><input id=\"url\" name=\"url\" placeholder=\"Website...\" size=\"30\" type=\"text\" value=\"\"\/><\/p>\n<p class=\"comment-form-cookies-consent\"><input id=\"wp-comment-cookies-consent\" name=\"wp-comment-cookies-consent\" type=\"checkbox\" value=\"yes\"\/> <label for=\"wp-comment-cookies-consent\">Save my name, email, and website in this browser for the next time I comment.<\/label><\/p>\n<p class=\"form-submit\"><input class=\"submit\" id=\"comment-submit\" name=\"submit\" type=\"submit\" value=\"Send\"\/> <input id=\"comment_post_ID\" name=\"comment_post_ID\" type=\"hidden\" value=\"10856\"\/> <input id=\"comment_parent\" name=\"comment_parent\" type=\"hidden\" value=\"0\"\/><\/p>\n","protected":false},"excerpt":{"rendered":"<p>The gaming industry in Macau continues to be a key factor of its economic development and produced 50.5% of its gross domestic product (GDP). Macau.- The Statistics and Census Bureau (DSEC) revealed casinos and junkets produced 50.5% of Macau gross&#8230;<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[6,11],"tags":[],"class_list":["post-379","post","type-post","status-publish","format-standard","hentry","category-asia","category-casino"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v24.8.1 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>GAMING IN MACAU PRODUCES 50 PCT OF ITS GDP - GBC<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/gbc.ng\/index.php\/gaming-in-macau-produces-50-pct-of-its-gdp\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"GAMING IN MACAU PRODUCES 50 PCT OF ITS GDP - GBC\" \/>\n<meta property=\"og:description\" content=\"The gaming industry in Macau continues to be a key factor of its economic development and produced 50.5% of its gross domestic product (GDP). 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