Macau Q1 tax revenue up 117%

The city experienced a significant increase of 116.8% in tax earnings compared to the same period last year, according to data from the Financial Services Bureau (DSF).

Financial results for the initial three months show Macau accumulated approximately MOP21.92 billion in fiscal revenue from taxes imposed on gaming activities. In contrast, in the first quarter of 2023, Macau collected MOP10.11 billion in taxes.

Gaming-related revenue accounted for 84.2% of the city’s total revenue during this period, which ended March 31. In March alone, gaming taxes contributed around MOP7.13 billion to the government. However, there was a 4.4% decrease in revenue for March compared to the same month in 2023.

According to Macau’s gaming regulator, the aggregate casino gross gaming revenue (GGR) for the first three months of 2024 was MOP57.33 billion, representing a significant increase of 65.5%.

Comparing year-on-year results for GGR is challenging because of the time delay between the recording of GGR and the registration of taxes by the government, resulting in significant variations in the reported figures.

The Macau government recently unveiled its budget plan for 2024, aiming to generate approximately MOP83.61 billion by the end of the year.

In 2023, the government earned MOP65.26 billion in revenue from gaming taxes, surpassing the planned budget by 28.3%.

Staff Reporter