• About Us
  • The Team
  • Advertise with Us

The latest news on the gaming industry in Asia

() () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () ()
  • Home
  • Macau
  • Philippines
  • Singapore
  • Japan
  • Rest of Asia
  • World
  • Industry Talk
  • Trends & Tech
  • iGaming
  • follow
    • Facebook
    • Twitter
    • RSS Feed
    • LinkedIn

Cash handout depends on govt revenue: Macau CE

Oct 09, 2014 Newsdesk Latest News, Macau, Top of the deck  


Cash handout depends on govt revenue: Macau CE

Macau’s Chief Executive, Fernando Chui Sai On (pictured), said 2015’s cash handouts for permanent and non-permanent residents would only be decided after closing the accounting procedures for the current year.

Mr Chui said the government would again consider sharing the fruits of the city’s economic development with Macau residents depending on this year’s fiscal surplus.

The government has estimated that this year’s cash payment will have cost MOP5.65 billion (US$707.3 million). More than 590,000 permanent residents each received MOP9,000 and over 61,000 temporary residents each received MOP5,400.

The amount paid to individuals this year was the highest since cash handouts began in 2008.

The government has indicated however that the deciding factor in the handout amount was not annual incremental increases in payment but the size of the government’s annual fiscal surplus. This year the increase in surplus might be smaller than in previous years because of the slowdown in casino gross gaming revenue (GGR) growth.

The Macau government collected a total of MOP90.9 billion in direct taxes from gaming during the first eight months of 2014.

The figure is up by 11.1 percent from the same period one year ago, according to data from Macau’s Financial Services Bureau. The growth has slowed from that seen in the first half of the year, which stood at 16 percent.

That is a result of a drop in casino GGR growth, which has been falling since June and dropped by 11.7 percent year-on-year to MOP25.6 billion in September.

The gaming tax rake up to August 31 accounts for 77.1 percent of the government’s MOP117.85-billion target for revenue from direct taxes from gaming for the whole of 2014.

Direct taxes from gaming brought in 85.0 percent of the Macau government’s total revenue in the first eight months of 2014. The importance of gaming taxes for the Macau government has been increasing in recent years, as the city’s casino industry booms.

Total government revenue for the first eight months of 2014 was MOP106.9 billion. Government spending amounted to MOP34.9 billion, meaning Macau ended the period with a surplus of MOP72.4 billion, up by 6.4 percent from a year earlier. In the first eight months of 2013, the government’s surplus was up by 30.3 percent from the previous year.

Speaking to reporters on Wednesday, Mr Chui noted the near 12-percent drop year-on-year in GGR last month, although he indicated he was not worried by the development. The city’s chief executive said that after rapid growth in recent years, the gaming industry is now entering “a period of adjustment”.


  • tweet
Related articles
  • Macau September GGR down 13pct on August: govt
    Macau September GGR down 13pct...

    Oct 01, 2023  

  • Bloomberry aims to raise up to US$99mln via share sale
    Bloomberry aims to raise up to US$99mln...

    Sep 29, 2023  

More news
  • Sands China to revitalise firecracker factory, old streets
    Sands China to revitalise firecracker...

    Sep 29, 2023  

  • S.Korea Daegu Casino fined US$776k for AML breaches 
    S.Korea Daegu Casino fined US$776k...

    Sep 29, 2023  


Latest News

Macau September GGR down 13pct on August: govt

Macau September GGR down 13pct on August: govt

Oct 01, 2023  

Macau’s September casino gross gaming revenue (GGR) fell by 13.2 percent month-on-month, to MOP14.94 billion (US$1.85 billion), according to a Sunday announcement from the local regulator, the...
Read More
Sands China to revitalise firecracker factory, old streets

Sands China to revitalise firecracker factory, old streets

Sep 29, 2023  

Bloomberry aims to raise up to US$99mln via share sale

Bloomberry aims to raise up to US$99mln via share sale

Sep 29, 2023  

Sign up to our FREE Newsletter

UB8V5.qr.16(Click here for more)

Pick of the Day

”The Philippines has been the primary growth driver, but really the broader Asian gaming industry is something that’s really important to us”

Matt Wilson

Chief executive of casino equipment provider Light & Wonder



Most Popular

  • Macau September GGR down 13pct on August: govtMacau September GGR down 13pct on August: govt October 1, 2023
  • Sands China to revitalise firecracker factory, old streetsSands China to revitalise firecracker factory, old streets September 29, 2023
  • S.Korea Daegu Casino fined US$776k for AML breaches S.Korea Daegu Casino fined US$776k for AML breaches  September 29, 2023
  • Light & Wonder to expand facilities in the Philippines: CEOLight & Wonder to expand facilities in the Philippines:… September 29, 2023
  • Any Macau clamp on money changing may hurt GGR: punditsAny Macau clamp on money changing may hurt GGR: pundits September 25, 2023
Copyright 2014-2023 TEAM Publishing and Consultancy Ltd / All rights reserved
  • Code of Ethics
  • Privacy Policy
  • Useful Links
  • Contact Us