Macau gaming tax revenue at US$6.4bln in year to July

Aug 14, 2024 Newsdesk Latest News, Macau, Top of the deck  

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The Macau government collected just under MOP51.62 billion (US$6.43 billion) in fiscal revenue from taxes on gaming in the first seven months of 2024, according to the latest data released on Tuesday by the city’s Financial Services Bureau.

So far this year the aggregate take from such tax was up 15.2 percent compared with the prior-year period.

In July alone this year, the government collected nearly MOP6.83 billion in revenue from gaming taxes, down 12.2 percent month-on-month.

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 June casino GGR was just over MOP17.69 billion, down 12.4 percent on this May’s MOP20.19 billion, the latter the best monthly tally since January 2020, at the very beginning of the Covid-19 pandemic.

According to the latest data, taxes from gaming brought in 83.9 percent of the Macau government’s total revenue in the seven months to July 31, with total revenue standing at nearly MOP61.51 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 seven months this year represents 61.7 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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