Macau: Gaming taxes down 13% in January

Macau government collected €1.1 billion in taxes in the first month of the year.

Macau.- The Macau government collected MOP10 billion (€1.1 billion) in gaming taxes in January, representing a 13.3% year-on-year decline according to a recent budget execution report.

Overall, the local government recorded MOP10 billion (€1.1 billion) in gaming revenue for January, a 19.4% year-on-year fall.

The decrease has been attributed to the impact of the Coronavirus on the local tourism and gaming sector.

According to official reports, there has been a 11.3 per cent year-on-year drop in gross gaming revenue for January to MOP22.1 billion (€2.4 billion).

The decline in February was even worse, with revenues down a staggering 87.8% year-on-year fall to MOP3.1 billion (€347 million).

The decline was a result of authorities imposing a 15-day casino shut down from 5 February to 20 February. Most of Macau’s 41 casinos have now reopened/