Macau gaming taxes up 17 pct in 2018

Between January and September, the gaming industry contributed with €8.65 billion, the Financial Services Bureau revealed.

Macau.- The gaming industry continues to evolve in Macau and rises as the local economy’s main driver as tourism keeps swarming the Chinese territory. In the first nine months of 2018, it contributed with €8.65 billion in gaming taxes, up 17% year-on-year, the Financial Services Bureau showed in its latest figures.

The government’s body explained that gaming tax revenue has comprised 80.9% of the €9.7 billion in total revenue reported this year and helped the local finances to close in its target revenue for the year, as it already has raked 94.3% of the total amount. The budgeted amount was set at €11.3 billion and is close to being achieved after strong September results, when direct taxes from gaming reached €1.03 billion.

The authorities particularly highlighted September’s performance as Typhoon Mangkhut hit Macau and forced gaming venues to close their operations for 29 hours, which had an extended impact as tourism went down due to the weather conditions. According to figures released by the Macau Gaming Inspection and Coordination Bureau, gambling revenue in the Chinese territory posted a 2.8% increase in the last month.