Gaming taxes 82pct of Macau govt rev in 10mths to Oct

Nov 25, 2024 Newsdesk Latest News, Macau, Top of the deck  

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The Macau government collected just under MOP6.65 billion (US$829.3 million) in fiscal revenue from taxes on gaming in October, according to data released on Friday by the city’s Financial Services Bureau.

The latest monthly result took the gaming tax tally for the first 10 months of 2024, to just over MOP73.04 billion.

According to the latest data, taxes from gaming brought in 82.1 percent of the Macau government’s total current revenue of MOP88.99 billion in the first 10 months of 2024.

Under the government’s 2024 budget plan, revenue from gaming taxes was anticipated to reach nearly MOP83.61 billion. The take for the first 10 months this year represents 87.4 percent of that figure.

Macau had by September 30, this year surpassed the approximately MOP65.26 billion in taxes collected from gaming in full-year 2023.

Under Macau’s 10-year gaming concession system that came into effect on January 1 last year, the effective tax on casino gross gaming revenue (GGR) is 40 percent.

The tax-take figures in a given calendar period and the city’s casino GGR in such a time frame are not directly comparable for a number of reasons. They include the fact that there is typically a delay between the point where GGR is recorded in Macau casino operations and the point at which tax is registered by the Macau government as having been paid on such play.

Macau’s 2025 casino GGR is forecast to reach MOP240 billion, according to the local government’s financial-year 2025 budget plan. The budget plan for next year estimates the Macau government will collect MOP84.0 billion in gaming taxes from the city’s six casino concessionaires . That is calculated based only from the levy of the so-called “special gaming tax”, which stands at 35 percent of GGR for the current 10-year gaming concessions that started from January 1, 2023.

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