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Macau government to expedite Wealth Partaking Scheme in 2021

Newsdesk by Newsdesk
Mon 12 Apr 2021 at 06:38
New urban plan to expand Macau tourism areas but casino activity to remain within current locations
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The Macau SAR Government has brought forward its Wealth Partaking Scheme in 2021, with the scheme to be implemented from this month due to the impacts of the COVID-19 pandemic on the economy and livelihoods.

According to a Sunday announcement, provision of the annual cash disbursement, which usually takes place from July, will not be stopped or slowed by the pandemic with the government stating that “existing basic beneficial measures for the public would be continuously implemented.”

Under the scheme, permanent residents are entitled to a MOP$10,000 (US$1,250) cash payment and non-permanent residents MOP$6,000 (US$750). More than 600,000 people will be eligible to receive the handout.

Launched in 2008, Macau’s Wealth Partaking Scheme is designed to share the SAR’s economic prosperity – a result of its booming casino industry – with its citizens. The handout amount has also doubled since 2008, when eligible residents received MOP$5,000 and MOP$3,000 each.

The Macau government reported tax revenues from the gaming industry of MOP$29.81 billion (US$3.72 billion) in 2020, down from MOP$112.71 billion (US$14.08 billion) in 2019.

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Newsdesk

Newsdesk

The IAG Newsdesk team comprises some of the most experienced journalists in the Asian gaming industry. Offering a broad range of expertise, their decades of combined know-how spans multiple countries across a variety of topics.

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