The government collected MOP14.24bn from casino operations in January and February.<\/p>\n\n\n\n\n\n\n\n
Macau.- The\u00a0Financial Services Bureau<\/strong> has reported that Macau collected MOP14.24bn (US$1.78bn) in taxes from casino operations in the first two months of the year. The figure was down 3.8 per cent in year-on-year terms<\/strong>. <\/p>\n\n\n\n Cumulatively, GGR for the first two months of 2024 was MOP38bn, up 0.5 per cent from the prior-year period.\u00a0Tax revenue figures, however, cannot be directly compared because there is usually a delay between when GGR is documented and when the government recognises the tax as being paid.<\/p>\n\n\n\n Under the 10-year concessions that came into effect on January 1, 2023, casinos pay 40 per cent on gross gaming revenue (GGR). The 2025 budget plan, which the Legislative Assembly approved in December, estimates that Macau\u2019s casino GGR\u00a0will reach MOP240bn (US$29.7bn)<\/a> this year. Gaming taxes are expected to reach MOP93.12bn (US$11.6bn).\u00a0<\/p>\n\n\n\n Analysts at Citigroup<\/strong> have estimated that Macau\u2019s GGR<\/strong> for the first 23 days of March was MOP14.6bn (US$1.82bn). The estimated GGR run rate was MOP635m per day.<\/p>\n\n\n\n Analysts George Choi <\/strong>and Timothy Chau<\/strong> said GGR is flat in year-on-year terms. The daily run rate for the week of March 17-23 was MOP643m (US$80.1m), a rise of 3 per cent compared to the previous week<\/a> (MOP621m). Analysts said VIP volume fell by 8 to 10 per cent month-on-month and mass GGR by 7 to 9 per cent. They said the VIP hold rate appeared to be higher than the previous week\u2019s.<\/p>\n\n\n\n Citigroup said its March 2025 GGR forecast remains unchanged at MOP19.5bn (US$2.43bn). Flat year-on-year, this would represent approximately 75 per cent of the March 2019 levels. GGR for February was MOP19.74bn (US$2.46bn), an increase of 6.8 per cent in year-on-year terms<\/a> and 8.2 per cent sequentially<\/a>. GGR was 77.8 per cent of February 2019\u2019s level.<\/p>\n","protected":false},"excerpt":{"rendered":" The government collected MOP14.24bn from casino operations in January and February.<\/p>\n","protected":false},"author":176,"featured_media":777014930,"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 casino tax revenue for January and February totaled MOP14.24bn, a 3.8% year-on-year decrease, despite cumulative GGR for the period rising 0.5% to MOP38bn. Citigroup analysts estimate March GGR at MOP14.6bn for the first 23 days, noting month-on-month declines in both VIP volume and mass GGR, while maintaining their March 2025 GGR forecast at MOP19.5bn.","focusai_entities":"Financial Services Bureau, Citigroup, George Choi, Timothy Chau, Legislative Assembly","focusai_location":"Macau","focusai_target_profile":"ceo_executive (0.9), regulator (0.85), compliance_legal (0.7), operator_casino (0.95), investor_analyst (0.95), journalist_researcher (0.9)","focusai_suggestions":[{"label":"GGR Forecast Revisions?","query":"Given the observed month-on-month declines in VIP and mass GGR for March, what is the probability of Citigroup or other major financial institutions revising their full-year 2025 GGR forecasts for Macau?"},{"label":"Tax Revenue Discrepancy?","query":"How do the reported tax revenue figures, which show a year-on-year decline, reconcile with the cumulative GGR increase for the same period, considering the stated delay in tax recognition under the new concession terms?"}],"footnotes":""},"categories":[16338,163],"tags":[23906],"class_list":["post-777024614","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-east-asia-news","category-finance-news","tag-macau-casinos"],"_links":{"self":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/777024614","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=777024614"}],"version-history":[{"count":2,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/777024614\/revisions"}],"predecessor-version":[{"id":777024644,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/777024614\/revisions\/777024644"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/media\/777014930"}],"wp:attachment":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/media?parent=777024614"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/categories?post=777024614"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/tags?post=777024614"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}Macau GGR reaches US$1.82bn in first 23 days of March, Citigroup says<\/h2>\n\n\n\n