Macau gaming taxes from Jan to Nov show 230% year-on-year increase

The Macau government received MOP59.07 billion (US$7.38 billion) in fiscal revenue from gaming taxes in the first eleven months of this year, according to the Financial Services Bureau of the city. This is a 230.3 percent increase over the same period last year, as made apparent by travel limitations relating to COVID-19.

November alone saw over MOP7.52 billion in gaming tax revenue for the government, a 30.1 percent increase from October’s gaming tax revenue.

With effect from January 1, Macau’s 10-year gaming concession system has an effective tax rate of 40% on casino gross gaming revenue (GGR). Notably, Macau’s casino total income reached MOP164.49 billion, up 324.9 percent for the 11-month period that concluded on November 30.

Note that there may be some inaccuracy when directly comparing tax-take figures from one quarter to the city’s casino GGR from the same time. This is caused by a variety of factors, such as the typical delay between the Macau government’s registration of tax payments and the recording of GGR in Macau casino operations.

According to official projections for the 2023 budget, gaming tax revenue was predicted to surpass MOP50.85 billion for the whole year. The government received a 16.2 percent surplus in gaming tax revenue predicted for the whole year in only the first 11 months of the current fiscal year, indicating that actual income surpassed forecasts.

Original story by: GGRAsia