Macau gaming tax revenue in September sees 202.7% increase from last year

According to the Financial Services Bureau, gaming taxes generated a substantial MOP45.77 billion (US$5.68 billion) in fiscal income for the Macau government in the first nine months of this year. This is a notable 202.7 percent increase over the same time last year, when travel restrictions connected to Covid-19 were still in effect.

This year, the government’s gaming tax collection in September alone came to over MOP6.65 billion, an increase of 3.3% from August’s revenues per month.

As of January 1, Macau’s 10-year gaming concession system is in place, and the effective tax rate on gross gaming revenue (GGR) from casinos is 40 percent.

The gross gaming revenue (GGR) of Macau’s casinos for the first nine months of 2023 was MOP128.95 billion, indicating a noteworthy 305.3 percent rise from the same period in 2022.

It’s crucial to remember that, for a variety of reasons, the tax revenue numbers and the city’s casino GGR for a given calendar period are not directly comparable. This involves a lag between when the Macau government records that the tax has been paid on these gaming activities and when GGR is recorded in Macau’s casino operations.

According to the government’s budget projection, gaming tax receipts would bring in more than MOP50.85 billion for the whole year. Ninety-nine months of 2023 income now makes up ninety-nine percent of that yearly goal.

Original story by: GGRAsia