• About Us
  • The Team
  • Advertise with Us

The latest news on the gaming industry in Asia

() () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () ()
  • Home
  • Macau
  • Philippines
  • Singapore
  • Japan
  • Rest of Asia
  • World
  • Features
  • Industry Talk
  • Trends & Tech
  • follow
    • Facebook
    • Twitter
    • RSS Feed
    • LinkedIn

Macau govt rakes US$12.7 bln in gaming taxes in Jan-Sept

Oct 14, 2014 Newsdesk Latest News, Macau, Top of the deck  


Macau govt rakes US$12.7 bln in gaming taxes in Jan-Sept

The Macau government collected a total of MOP101.1 billion (US$12.7 billion) in direct taxes from gaming during the first nine months of 2014.

The figure is up 9.1 percent from the same period a year earlier, according to data disclosed on Monday by Macau’s Financial Services Bureau. But it shows a slowdown from the 11.1 percent growth in the first eight months of the year.

Total government revenue for the period reached MOP120.1 billion, an increase of 6 percent year-on-year. The growth declined from an 8.2-percent increase in the January-August period.

The slowdown in expansion of the government’s revenue is a consequence of the declining gross gaming revenue (GGR) in the city. The contribution of direct gaming taxes as a percentage of all public revenue has been increasing in recent years.

Macau’s casinos have seen four consecutive months of declines in gambling revenue since June, which analysts have blamed on a combination of supply side factors and demand side ones. They include a cyclical issue of tighter liquidity conditions for the credit-issuing junkets, a reduction in the number of transit visas available to high rollers, and the crackdown on corruption in mainland China. Macau GGR for September fell by 11.7 percent year-on-year to MOP25.6 billion.

Direct taxes from gaming brought in 84.2 percent of the Macau government’s total revenue in the first nine months of 2014.

The Macau government levies a special gaming tax on casino GGR at the rate of 35 percent. It also collects about 4 percent of the gross in indirect taxes for social and promotional purposes, as well as a levy on each gaming machine, live dealer table and VIP room.

Government spending in the January-September period amounted to MOP40.8 billion, meaning Macau ended the period with a surplus of MOP79.3 billion, up by 2.2 percent from a year earlier. In the first nine months of 2013, the government’s surplus was up by 26.2 percent from the previous year.

Macau’s Chief Executive, Fernando Chui Sai On, said last week that next year’s cash handouts for permanent and non-permanent residents would be decided based on 2014’s fiscal surplus.


  • tweet
Related articles
  • Mass market play record 65pct Macau GGR in 4Q: govt
    Mass market play record 65pct Macau GGR...

    Jan 15, 2021  

  • Melco Resorts debt/EBITDA ratio to worsen in 2021: Moody’s
    Melco Resorts debt/EBITDA ratio to...

    Jan 14, 2021  

More news
  • CNY 2021 unlikely to boost Macau casinos, say observers
    CNY 2021 unlikely to boost Macau...

    Jan 15, 2021  

  • Malaysia Covid outlook negative to Genting Bhd: Moody’s
    Malaysia Covid outlook negative to...

    Jan 15, 2021  


Latest News

CNY 2021 unlikely to boost Macau casinos, say observers

CNY 2021 unlikely to boost Macau casinos, say observers

Jan 15, 2021  

Recent advisory notices issued by a number of local authorities in mainland China, calling on residents not to travel during the February Chinese New Year (CNY) break, further clouds the prospects...
Read More
Mass market play record 65pct Macau GGR in 4Q: govt

Mass market play record 65pct Macau GGR in 4Q: govt

Jan 15, 2021  

Malaysia Covid outlook negative to Genting Bhd: Moody’s

Malaysia Covid outlook negative to Genting Bhd: Moody’s

Jan 15, 2021  

Sign up to our FREE Newsletter

UB8V5.qr.16(Click here for more)

Partners

Pick of the Day

“We expect Las Vegas Sands to not have any material change in strategy. The focus remains developing Macau and Singapore”

Vitaly Umansky, Kelsey Zhu and Tianjiao Yu

Analysts at brokerage Sanford C. Bernstein



Most Popular

  • Sheldon Adelson, self-declared casino industry iconoclastSheldon Adelson, self-declared casino industry iconoclast January 13, 2021
  • Quality fake chips sold online found at Macau casinoQuality fake chips sold online found at Macau casino January 13, 2021
  • Casino entrepreneur Sheldon Adelson dies aged 87Casino entrepreneur Sheldon Adelson dies aged 87 January 12, 2021
  • Police find US$11m of missed Landing cash, suspects soughtPolice find US$11m of missed Landing cash, suspects sought January 14, 2021
  • Still Asia focus for LVS post chairman death: BernsteinStill Asia focus for LVS post chairman death: Bernstein January 14, 2021
Copyright 2014-2020 TEAM Publishing and Consultancy Ltd / All rights reserved
  • Code of Ethics
  • Privacy Policy
  • Useful Links
  • Contact Us