Macau gaming tax revenue reaches US$2.7bn as of July

Macau’s government collected MOP22.2bn (US$2.7bn) in tax revenue from the gaming industry in the first seven months of the year.

Macau.- Taxes on the gaming industry generated MOP22.2bn (US$2.7bn) in revenue for Macau during the first seven months of the year, 44 per cent of the MOP50bn figure the government had estimated for the full year.

According to its budget plan, Macau’s government hopes to collect MOP50.01bn in taxes for the year 2021. However, gaming tax revenue for the first half was down 9.8 per cent when compared to the same period last year.

Lei Wai Nong, secretary for economy and finance, said last month that regardless of the poor gaming results in the first half of the year, the SAR would still finish 2021 with the previously projected tally. 

According to authorities, 2021 could end with some MOP130m in GGR although aggregate casino GGR for the first eight months of the year totals MOP$61.91bn.

The government collected nearly MOP3bn in gaming taxes in August, a month marked by local cases of Covid-19 and hundreds of cancelled flights.

Fitch Ratings Inc has predicted that Macau’s GGR will be 65 per cent below that of 2019, when the city registered MOP292.4bn (US$36.5bn) in GGR. According to analysts, Macau will reach MOP102.4bn.