Macau collects US$893mln in gaming tax revenue in August

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

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The Macau government collected just above MOP7.16 billion (US$892.9 million) in fiscal revenue from taxes on gaming in August, up 4.8 percent from July, according to the latest data released on Tuesday by the city’s Financial Services Bureau.

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.

The government collected just under MOP58.78 billion from taxes on gaming in the eight months to August 31. So far this year the aggregate take from such tax was up 50.3 percent compared with the prior-year period.

According to the latest data, taxes from gaming brought in 84.7 percent of the Macau government’s total revenue in the first eight months of 2024, with total revenue standing at nearly MOP69.42 billion.

According to the government’s 2024 budget plan, revenue from gaming taxes is anticipated to reach nearly MOP83.61 billion this year. The take for the first eight months this year represents 70.3 percent of that figure.

In full-year 2023, the Macau authorities collected MOP65.26 billion in revenue from gaming tax, achieving a 28.3-percent surplus in gaming tax revenue budgeted for last year.

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