Macau gaming tax revenue down

The government’s take from gaming taxes dropped 10.5 percent in the first nine months of 2016.

Macau.- According to the city’s Financial Services Bureau, Macau collected US$7.30 billion in fiscal revenues from direct taxes on gaming between the first nine months of the year. During the same period in 2015, Macau collected US$7.95 billion. It is estimated that the full year take will be the smallest since 2010.

The Gaming Inspection and Coordination Bureau, Macau’s local regulator, stated that GGR rose 7.4 percent year on year in September, hitting US$2.2 billion. These numbers mark the second time that monthly revenue hasn’t contracted in 28 months. Monthly casino GGR started showing better results in August, when it expanded by 1.1 percent. GGR rose 7.4 percent to US$2.4 billion in September.

Revenue has fallen to five-year lows but has ticked up since the openings in August and September. The number of overnight visitors has risen since August due to operators offering cheaper hotel rooms and promotions. From January to September 30, Macau’s aggregate casino GGR was US$19.8 billion, 7.5 percent less than the same period in 2015.