Tax revenue increases 18.9 pct in Macau

The government revealed that direct taxes from gaming amounted to US$6.65 billion during the first half of 2018.

Macau.- The Macanese Financial Services Bureau (FSB) revealed that, during the first half of 2018, the government received taxes from the gaming segment for US$6.65 billion. The figure was 18.9 per cent higher year-on-year, compared with 2017’s US$5.59 billion, and amounted to 83.6 per cent of the government’s total revenue during the six months to June 30th.

According to the FSB, aggregate casino GGR was US$18.57 billion, 18.9 per cent higher as well, while the government fiscal surplus for the period was up by 50.8 per cent year-on-year to about US$30.77 billion. In addition, the government projected GGR to reach US$28.44 billion in 2018 and expects to rake US$10.19 billion in fiscal revenue from direct taxes on the industry.

According to Sanford C. Bernstein Ltd, GGR will only expand 14 per cent this year and will slow down to a four per cent growth in 2019. The brokerage explained the city’s GGR is “now entering a decelerating environment” and forecasted the mass market to outperform the VIP segment as they will grow 12 and 17 per cent this year, respectively.