Gaming tax revenue reaches MOP7.16b in August

The Financial Services Bureau has reported a significant increase in gaming tax revenue for August, totaling MOP7.16 billion (approximately USD893 million), a rise of 4.8% from July. This uptick underscores the city’s ongoing recovery from the pandemic, as gaming remains a vital component of its economy.

The effective tax rate on casino gross gaming revenue (GGR) stands at 40%, a rate implemented under the new 10-year gaming concession system that began on January 1, 2023. While the tax revenue figures provide insight into financial performance, they do not directly correlate with GGR due to timing differences in reporting and payment processes.

For the first eight months of this year, Macau has collected nearly MOP58.78 billion (USD7.37 billion) from gaming taxes, marking a remarkable increase of 50.3% compared to the same period last year. This revenue stream accounted for 84.7% of the government’s total fiscal income, which reached approximately MOP69.42 billion (USD8.7 billion).

September’s figures continued this positive trend, with tax revenue climbing to MOP7.62 billion (USD952 million), reflecting a month-on-month increase of 6.4%. This growth is attributed to a strong GGR of MOP19.8 billion (USD2.47 billion) in August, indicating stronger visitor engagement and spending at the concessionaire properties.

Projections suggest gaming tax revenues could reach MOP83.61 billion (USD10.49 billion) in 2024, already achieving over 70% of this target within just nine months. The region’s financial outlook remains optimistic as it diversifies its economy while maintaining its status as a premier gaming destination. Nadia Shaw