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Macau Mulls Casino Tax Cut as Gaming Revenue Plummets

  • Reduction could be 5% max if operators bring overseas bettors
  • Casino shares rally in US trading Friday on revision reports
Pedestrians walk past Las Vegas Sands Corp.’s Venetian Macao casino resorts in Macau in 2020.
Pedestrians walk past Las Vegas Sands Corp.’s Venetian Macao casino resorts in Macau in 2020.Photographer: Billy H.C. Kwok/Bloomberg

Macau is considering revising a casino bill, including a potential cut on some of the world’s heftiest gaming taxes, as the gambling hub faces plunging revenue amid China’s Covid lockdowns. 

Share prices of the city’s licensed casino operators soared in the US on Friday after Macau media first reported the proposed revisions. Las Vegas Sands Corp. and Melco Resorts & Entertainment Ltd. each rose 15%, while Wynn Resorts Ltd. jumped 13%.