Macau gaming tax revenue drops 50% in Q1
Macau’s government collected MOP9.17bn (US$1.15bn) in tax revenue from the gaming industry in the first three months of 2021.
Macau.- Taxes on the gaming industry generated MOP9.17bn (US$1.15bn) in revenue for Macau between January and March, a drop of 50.4 per cent year-on-year.
GGR for March came in at MOP$8.3bn (US$1.04bn), up 58 per cent year-on-year. The tax take was down 8.4 per cent to MOP2.85bn. That’s a drop from MOP3.11bn in February.
The Financial Services Bureau reported that in 2020, tax collection from the gaming industry fell 74 per cent year-on-year to MOP79.8bn. Total current revenue dropped by 65 per cent.
According to Deutsche Bank, Macau’s GGR for the second quarter of the year will reach US$2.96bn, down 32 per cent from its previous prediction of US$4.39bn.
Although Macau is seeing a slight recovery in visitation numbers, the city is still far from pre-pandemic levels. To help local businesses and the tourism sector, Macau authorities have eased some Covid-19 countermeasures in recent weeks.
