Macau sees surge in gaming tax revenue

In August, the government of Macau received MOP$6.44 billion (US$799 million) in wagering tax revenue. This number represents the highest monthly collection since the onset of the COVID-19 pandemic, with a 9.5% increase over July.

The increase in tax revenue parallels the continuous expansion of gaming revenue in Macau’s casino industry. In the first eight months of the year, Gaming Gross Revenue (GGR) consistently increased, reaching MOP$16.66 billion (US$2.06 billion) in July and MOP$17.21 billion (US$2.11 billion) in August. It is essential to observe that the August tax collection is related to the GGR generated in July.

In the first eight months of 2023, gaming tax revenues totaled MOP$39.1 billion (US$4.85 billion), representing a remarkable 175% increase year-over-year. This amount also accounts for 76.9% of the government’s budget for fiscal year 2023, which has been set at MOP50.85 billion (US$6.30 billion).

The total government revenue for the period ending in August amounted to MOP$48,1 billion (US$5.97 billion). This indicates that gaming tax revenue has made a substantial contribution, accounting for 81.3% of Macau’s total income during this period.

Analysts anticipate a decline in Macau’s recovery in September due to the anticipated impact of Super Typhoon Saola, despite this positive trajectory. Extreme weather could disrupt the region’s economic activities and have an impact on a variety of industries, including the casino industry.

Original story by: IAG