Macau finance secretary promises casino operators’ non-gaming investments are being tracked
Macau casino operators are required to invest a minimum of MOP108.7bn in non-gaming projects over ten years.
Macau.- Tai Kin Ip, Macau’s secretary for economy and finance, has confirmed that the government is monitoring the city’s casino operators’ implementation of non-gaming investments to ensure compliance with contractual obligations. He made the clarification at a meeting of the Legislative Assembly after several lawmakers raised concerns about the progress of non-gaming investment plans.
He noted that the government requires gaming operators to submit a report on their past year’s progress by the end of March and to present their investment plan for the next year by the end of September. He said independent groups monitor investments, and a full assessment of investment performance is scheduled every three years.
Under current gaming concessions, the six Macau casino operators must invest a minimum of MOP108.7bn (US$13.48bn) in non-gaming initiatives over ten years.
Macau gaming tax revenue dips in first two months of the year
The Financial Services Bureau has reported that Macau collected MOP14.24bn (US$1.78bn) in taxes from casino operations in the first two months of the year. The figure was down 3.8 per cent in year-on-year terms.
Cumulatively, GGR for the first two months of 2024 was MOP38bn, up 0.5 per cent from the prior-year period. Tax revenue figures, however, cannot be directly compared because there is usually a delay between when GGR is documented and when the government recognises the tax as being paid.
Under the 10-year concessions that came into effect on January 1, 2023, casinos pay 40 per cent on GGR. The 2025 budget plan, which the Legislative Assembly approved in December, estimates that Macau’s casino GGR will reach MOP240bn (US$29.7bn) this year. Gaming taxes are expected to reach MOP93.12bn (US$11.6bn).
