GGRAsia – Macau gaming tax revenue up 19pct in first half 2018

Macau gaming tax revenue up 19pct in first half 2018

Jul 20, 2018 Newsdesk Latest News, Macau, Top of the deck

The Macau government’s take from direct taxes on gaming increased by 18.9 percent year-on-year in the first six months of 2018, show provisional data disclosed on Thursday by the city’s Financial Services Bureau.

The city collected approximately MOP53.79 billion (US$6.65 billion) in fiscal revenues from direct taxes on gaming in the first half this year. That compares with MOP45.23 billion collected in the same period of 2017.

Direct taxes from gaming brought in 83.6 percent of the Macau government’s total revenue in the six months to June 30, which stood at MOP64.37 billion.

Macau’s aggregate casino gross gaming revenue (GGR) for the first half of 2018 was MOP150.22 billion, up 18.9 percent from the prior-year period, according to official data from the city’s gaming regulator.

Macau levies an effective tax rate of 39 percent on casino GGR – 35 percent in government tax, and the remainder in a number of levies to pay for a range of community good causes.

The Macau government fiscal surplus for the January-June period was up by 50.8 percent year-on-year to nearly MOP30.52 billion.

The city’s government forecasts GGR will be MOP230 billion in 2018. It has said it expects to collect a total of MOP82.41 billion in fiscal revenue from direct taxes on gaming this year.

The Macau government has a track record of taking a conservative approach when estimating gaming-related tax revenue in its yearly budgets.