Macau’s six gaming concessionaires already have exclusive foreigner-only gaming zones at their casino properties but they have yet to apply for a tax exemption under the city’s new gaming tax regime. This was confirmed by Macau’s Secretary for Economy and Finance Lei Wai Nong during a recent Legislative Assembly meeting.
Exclusive Gaming Zones Operating at 12 Macau Casinos
According to Secretary Lei, the exclusive gaming areas are now operational across a total of 12 casinos in the city. Each of the six casino operators may apply for up to a 5% levy exemption from gross gaming revenue (GGR) generated by overseas customers. However, none of the six concessionaires have so far applied for the incentive.
Mr. Lei said that the operators must submit the required documents to apply for the tax exemption and that the process would be handled with caution as it involves government revenue.
Tax Incentive Not Material to Sands China
None of the operators publicly disclosed whether they had availed of the tax rate exemption, though Sands China president Wilfred Wong Ying Wai indicated in May that they were considering applying for a tax reduction linked to the operation of their foreigner-only gaming zone.
However, Robert Goldstein, chairman and CEO of Sands China and its parent company Las Vegas Sands Corp, recently stated that the incentive scheme does not have much significance to the company’s business as they are more focused on delivering quality service to their customers.