Macau gaming taxes reach US$9.10bn in first 10 months of the year
The total is closing in on the government’s US$10.4bn target.
Macau.- The Financial Services Bureau has reported that Macau collected MOP73.04bn (US$9.10bn) in taxes from casino operations in the first ten months of the year. That’s 87.4 per cent of its target of MOP83.61bn (US$10.4bn) for the full year.
In October, the Macau government collected MOP6.65bn (US$829.3m). That’s a 4.8 per cent decrease compared to the preceding month. GGR for October was MOP20.79bn (US$2.60bn), an increase of 6.6 per cent year-on-year and 20.5 per cent compared to the previous month. It was the city’s best monthly performance since January 2020 (MOP22.13bn).
The rise in revenue was mainly attributed to the October Golden Week holiday, a seven-day public holiday in Mainland China, which brought 916,000 visitors to Macau. The Macau Hoteliers and Innkeepers Association reported at the time that the city’s average hotel occupancy rate had peaked at 95 per cent.
Last January, Macau’s new 10-year gaming concession system began with an effective tax rate of 40 per cent on GGR. Cumulatively, Macau’s GGR for the first ten months of 2024 was MOP190.1bn (US$23.7bn), up 28.1 per cent year-on-year but 23 per cent lower than the same period in 2019, when GGR amounted to MOP246.9bn (US$30.8bn).
Macau GGR reaches US$1.26bn in first 17 days of November, analysts say
Analysts at Bank of America have estimated that Macau’s gross gaming revenue (GGR) for the first 17 days of November was MOP10.1bn (US$1.26bn). The estimated run rate was MO594m (US$74.4m) a day.
Analysts said that, despite a typhoon and the Grand Prix, which typically shifts focus away from gaming, the average daily revenue (ADR) for the week from November 11 to 17 was MOP630m ($78.9m), up by 9.52 per cent from MOP570m (US$71.4m) during the initial ten days of the month. November’s GGR is expected to reach MOP18bn (US$2.25bn), up 12 per cent in year-on-year terms due to a relatively low baseline last year.
