DAILY NEWS WRAP

  1. MGM China has announced a novel initiative for supporting local SMEs: it is going to both pay them in advance for their future receivables, and it is going to expedite their payments to just 14 days after receipt. Read more
  2. Applications for financial support by SMEs has risen sharply, amounting to more than 2,500 since the start of February, according to the government. Around 7,000 enquiries have been lodged. GOV 
  3. Local association Macau People Power has asked the Macau government to consider a second cash handout for 2020. The request comes after the government confirmed it would start distributing the handout, formally known as the Wealth Partaking Scheme, several months earlier than normal. MDT 
  4. The coronavirus crisis could put pressure on some Macau gaming junket operators – particularly mid- and small-size ones – to scale down their businesses in the city or shift their operational resources to overseas markets. So said a junket trade body representative. GGRA 
  5. Alidad Tash, a noted local gaming consultant, has come out with a very bearish call on the near-term future for Macau’s casino industry. He reckons it will take another year until casino business levels return to normal. “Defining ‘normal’ as three months of GGR matching or exceeding the same period in 2019, most analysts are predicting an optimistic Q3 or Q4 recovery. I predict a return to the good old days in Q2 of 2021,” Tash says. ASGAM 
  6. As of yesterday, the Macau International Airport (MIA) had only 11 routes in operation, with most of the flights operated by home carrier, Air Macau. MDT 
  7. Mainland China’s mobile and online payment platform Alipay HK, together with WeChat Pay HK, can now be used at the city’s Macau Pass terminals across retail outlets in the Macau SAR. MDT 
  8. The government has completed 4 rounds of facemask sale, and sold 22 million masks in total. The 5th round of facemasks sale begins today. MPD 
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