Macau’s gaming tax revenue rose by 175.4 per cent in the first eight months of the year.
Macau.- The Financial Services Bureau has reported that Macau collected MOP39.12bn (US$4.85bn) in taxes from casino operations in the first eight months of the year. The figure was up 175.4 per cent when compared to the same period last year.
In January, Macau’s new 10-year gaming concession system began with an effective tax rate of 40 per cent on casino gross gaming revenue (GGR). In August, the government collected MOP6.44bn in gaming tax revenue, reflecting a 9.5 per cent month-on-month increase.
Macau’s casino GGR for the eight-month period ending August 31 was MOP114.01bn, a rise of 295.1 per cent compared to the same period in 2022. In August, GGR was up 3.3 per cent month-on-month at MOP17.21bn – the highest monthly performance since the outset of the Covid-19 pandemic in January 2020.
The government forecasts gross gaming revenue of MOP130bn (US$16bn) for 2023, generating taxes of MOP50.85bn. H1 taxes reached 52.7 per cent of that figure.