Macau continues to see a robust recovery in fiscal revenue from gaming taxes

The fiscal revenue of the Macau government from casino taxes is increasing; during the first ten months of 2023, MOP51.55 billion (US$6.42 billion) was recorded.

This sum is a 215.7% increase over the same period last year, when the gaming industry faced challenges due to travel restrictions connected to COVID-19. The increased trend is indicative of the casino industry’s revival in Macau as travel restrictions loosen and tourists visit the region again.

October 2023 alone brought in well over MOP5.78 billion in gaming tax revenue for the government. Even though this was a 13.1% decrease from the previous month, the total outcome shows how resilient and resilient Macau’s casino sector is.

The effective tax rate on Macau’s casino gross gaming profits will be 40% once the new 10-year gaming concession scheme is adopted in early 2023. The rise in gaming tax revenue has exceeded projections; the government’s budget calls for just over MOP50.85 billion in revenue over the course of the year. The revenue collected in the first ten months of 2023 has already surpassed the targeted amount by 101.4%, indicating the tenacity of Macau’s gaming industry in the ongoing recovery.

Original story by: GGRAsia