Macau collects gaming tax revenue of US$1.25bln in 1Q

May 02, 2023 Newsdesk Latest News, Macau, Top of the deck  

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The Macau government collected in the first quarter of 2023 just above MOP10.11 billion (US$1.25 billion) in fiscal revenue from taxes on gaming, according to the latest data released on Tuesday by the city’s Financial Services Bureau. That was up 15.8 percent from the MOP8.73 billion collected in the same period in 2022.

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

Macau’s first-quarter GGR tallied MOP34.64 billion, up 94.9 percent on the prior-year’s quarter.

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.

The Macau government has previously said it estimates the city’s 2023 casino GGR will be MOP130 billion.

According to the government’s budget plan, revenue from gaming taxes should reach just above MOP50.85 billion this year. The take for the first three months of the year represents just 19.9 percent of that figure.

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