{"id":11031,"date":"2020-10-19T21:26:16","date_gmt":"2020-10-19T21:26:16","guid":{"rendered":"https:\/\/focusgn.com\/asia-pacific\/?p=11031"},"modified":"2026-04-24T00:52:12","modified_gmt":"2026-04-24T03:52:12","slug":"malaysia-tax-hikes-not-expected-for-casinos","status":"publish","type":"post","link":"https:\/\/focusgn.com\/asia-pacific\/malaysia-tax-hikes-not-expected-for-casinos","title":{"rendered":"Malaysia: tax hikes not expected for casinos"},"content":{"rendered":"\n

RHB <\/strong>Investment Bank has said a new increase is unlikely as Genting Malaysia is still recovering from the financial hit wrought by the pandemic.<\/p>\n\n\n\n\n\n\n\n

Malaysia.-\u00a0RHB Investment Bank has said it does not expect the government to declare any increases in casino taxes.\u00a0<\/p>\n\n\n\n

Two years\u00a0ago,\u00a0the government took casino tax duties to\u00a035 per cent, which the bank says remains one of the\u00a0highest rates in the region.\u00a0\u00a0<\/p>\n\n\n\n

With Genting Malaysia heavily impacted<\/a><\/em><\/strong> by the Covid-19 pandemic, the bank does not expect a further hike for now.<\/p>\n\n\n\n

It said in a statement published by The Edge Markets:\u00a0\u201cEven though Resorts World Genting has reopened, the recovery pace is still slow due to the social distancing rules in place. Hence, another round of tax\u00a0hike\u00a0is unlikely as the sector is no longer low-hanging fruit.”\u00a0\u00a0<\/p>\n\n\n\n

In 2010, the pool betting duty in Malaysia was increased from 6 per cent to the current 8 per cent. operators (NFOs) have also been negatively impacted by Covid-19, with a total of 40 draws cancelled, so increases in duties are not expected in here either.\u00a0<\/p>\n\n\n\n

The bank noted that any such measure could play against tax collection, as it would lower the prize\u00a0pay-out.\u00a0<\/p>\n\n\n\n

It said:\u00a0\u201cAlthough NFOs have staged a strong ticket sales recovery since the economic reopening, they have yet to reach pre-pandemic levels (currently only at 80-85 per cent of pre-pandemic levels).\u00a0<\/p>\n\n\n\n

\u201cIn order for the government to harvest extra tax revenue, we believe stricter enforcement on illegal operators is a more feasible solution.\u201d <\/p>\n","protected":false},"excerpt":{"rendered":"

RHB Investment Bank has said a new increase is unlikely as Genting Malaysia is still recovering from the financial hit wrought by the pandemic.<\/p>\n","protected":false},"author":2,"featured_media":11033,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"is_press_release":false,"is_interview":false,"is_opinion":false,"focusai_summary":"RHB Investment Bank anticipates no further casino tax increases in Malaysia, citing the existing high 35% rate and the ongoing recovery challenges faced by Genting Malaysia and NFOs post-pandemic. The bank suggests that additional tax hikes would impede sector recovery and potentially reduce overall tax collection, advocating instead for stricter enforcement against illegal operators to boost government revenue.","focusai_entities":"RHB Investment Bank, Genting Malaysia, Resorts World Genting, The Edge Markets","focusai_location":"Malaysia","focusai_target_profile":"ceo_executive (0.9), regulator (0.9), compliance_legal (0.7), operator_casino (1.0), investor_analyst (1.0), supplier_vendor (0.7), journalist_researcher (0.9)","focusai_suggestions":[{"label":"Genting Malaysia NGR?","query":"What is the projected impact on Genting Malaysia's NGR and EBITDA, considering the sustained 35% casino tax rate and ongoing recovery challenges?"},{"label":"Illegal Operator Impact?","query":"How might enhanced regulatory enforcement against illegal gaming operators in Malaysia influence the market share and tax contributions of licensed entities like NFOs?"}],"footnotes":""},"categories":[163,16333],"tags":[19394,226,2895],"class_list":["post-11031","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-finance-news","category-south-east-asia-news","tag-genting-malaysia","tag-malaysia","tag-taxes"],"_links":{"self":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/11031","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/comments?post=11031"}],"version-history":[{"count":3,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/11031\/revisions"}],"predecessor-version":[{"id":11036,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/11031\/revisions\/11036"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/media\/11033"}],"wp:attachment":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/media?parent=11031"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/categories?post=11031"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/tags?post=11031"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}