Authorities have revealed the steep drop in revenue from gaming taxes.
Macau.- The Macau SAR government has revealed that it collected MOP22.8 billion (US$2.8 billion) in gaming taxes between January and August. That’s a drop of 70.1 per cent compared to the same period last year.
It said gross gaming revenues have dropped by 81.6 per cent year-on-year to about MOP36.3 billion (US$4.6 billion).
According to budget data published by the Financial Services Bureau, in total local authorities made MOP74.9 billion (US$9.3 billion) in revenue for the year up to August. That’s 14.7 per cent less than in the same period last year, and only 68.3 per cent of the estimated takings for the period.
Excluding capital revenues, the Macau SAR gained MOP30.2 billion revenue (US$3.7 billion), mainly from gaming taxes. That’s a drop of 64.6 per cent year-on-year.
Local public expenses increased 11.7 per cent year-on-year to MOP55.4 billion, largely due to policies, including subsidies, introduced to help the economy through the Covid-19 pandemic.