Macau Jan-Nov 2024 gaming tax rev exceeds US$10bln

Dec 13, 2024 Newsdesk Latest News, Macau, Top of the deck  

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The Macau government collected just under MOP81.05 billion (US$10.12 billion) from taxes on gaming in the first 11 months of 2024. So far this year the aggregate take from such tax was up 37.2 percent compared with the prior-year period, according to official data.

The tally for the January to November period this year represents 96.9 percent of the MOP83.61-billion in gaming taxes the government had forecast in its 2024 budget plan.

The government collected MOP65.26 billion in gaming taxes in full-year 2023.

The Macau government collected about MOP7.77 billion in fiscal revenue from taxes on gaming in November, up 16.8 percent from the previous month, showed the data released on Thursday 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.

According to the latest data, taxes from gaming brought in 80.6 percent of the Macau government’s total current revenue in the first 11 months of 2024.

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