Macau\u2019s tax revenue from the gaming industry was up 29.9 per cent month-on-month in October, from MOP1.77bn (US$220.5m) to MOP2.30bn (US$287.2m).<\/p>\n\n\n\n\n\n\n\n
Macau.-\u00a0Taxes on the gaming industry\u00a0<\/strong>generated MOP2.30bn (US$287.2m)\u00a0<\/strong>in revenue for Macau in October, up 29.9 per cent from\u00a0the figure registered in September<\/a>.\u00a0Macau’s GGR<\/a>\u00a0was down 25.8 per cent month-on-month in October and down 40 per cent year-on-year, at MOP4.37bn (US$544m).\u00a0<\/p>\n\n\n\n October saw the lowest monthly GGR of 2021, below even August when\u00a0the city recorded GGR of MOP$4.44bn (US$554.5m)<\/a>. For the first ten months of the year,\u00a0Macau collected MOP29.54bn in gaming tax revenue<\/strong>, up 21.3 per cent when compared to 2020. The government has reached 59.1 per cent of the MOP50.01bn it hoped to collect for full-year 2021.<\/p>\n\n\n\n At the end of August<\/a>,\u00a0Ho Iat Seng, Macau\u2019s chief executive<\/strong>, said Macau would have to\u00a0revise its budget<\/strong>\u00a0as gross gaming revenue was impacted by a\u00a0new outbreak of Covid-19 cases<\/a>. Preparing\u00a0next year\u2019s fiscal budget plan<\/a>, the government of Macau has predicted that\u00a0GGR for 2022 will be MOP130bn (US$16.2bn)<\/strong>, half that seen before the Covid-19 pandemic.<\/p>\n\n\n\n In the budget plan, the government estimates that gaming tax income will reach MOP45.5bn in 2022<\/strong>. The government said it will use the city\u2019s accumulated fiscal reserves to support expenditure on social welfare and public infrastructure projects. <\/p>\n","protected":false},"excerpt":{"rendered":" Macau\u2019s tax revenue from the gaming industry was up 29.9 per cent month-on-month in October, from MOP1.77bn (US$220.5m) to MOP2.30bn (US$287.2m).<\/p>\n","protected":false},"author":176,"featured_media":18576,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"is_press_release":false,"is_interview":false,"is_opinion":false,"focusai_summary":"Macau's October gaming tax revenue increased by 29.9% month-on-month to MOP2.30bn, despite a 25.8% month-on-month decline in GGR to MOP4.37bn, marking the lowest monthly GGR for 2021. Year-to-date gaming tax revenue reached MOP29.54bn, up 21.3% from 2020, though the government has only achieved 59.1% of its full-year target. The Macau government has revised its 2022 GGR forecast to MOP130bn, half of pre-pandemic levels, anticipating MOP45.5bn in gaming tax income, and plans to utilize fiscal reserves for social welfare and infrastructure.","focusai_entities":"Ho Iat Seng, Government of Macau","focusai_location":"Macau","focusai_target_profile":"ceo_executive (0.95), regulator (0.9), compliance_legal (0.7), operator_casino (0.95), investor_analyst (0.95), supplier_vendor (0.85), journalist_researcher (0.9)","focusai_suggestions":[{"label":"GGR Forecast Accuracy","query":"Given the significant downward revision of Macau's 2022 GGR forecast to MOP130bn, what specific factors beyond COVID-19 outbreaks are informing this conservative projection, and how does this align with operator-level expectations for recovery?"},{"label":"Fiscal Reserve Impact","query":"How will the planned utilization of Macau's accumulated fiscal reserves to support social welfare and public infrastructure projects impact the government's long-term financial stability and its capacity to manage future economic shocks, particularly if GGR recovery remains subdued?"}],"footnotes":""},"categories":[16338,163,158],"tags":[23906],"class_list":["post-24637","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-east-asia-news","category-finance-news","category-slider-home","tag-macau-casinos"],"_links":{"self":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/24637","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\/176"}],"replies":[{"embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/comments?post=24637"}],"version-history":[{"count":3,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/24637\/revisions"}],"predecessor-version":[{"id":24643,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/24637\/revisions\/24643"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/media\/18576"}],"wp:attachment":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/media?parent=24637"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/categories?post=24637"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/tags?post=24637"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}