Macau sees increase in gaming tax revenue, marking 241% surge compared to last year

The Macau government saw a sharp increase in gaming tax revenue in 2023, with MOP$65.3 billion (US$8.10 billion)—a startling 241% increase over the previous year and a 28.3% increase above the government’s projected gaming tax revenue.

This growth might be attributed to Macau’s reopening of its borders in January 2022, which raised gaming revenues to MOP$183.1 billion (US$22.7 billion), a huge increase of 334% year over year.

Despite the fact that December’s tax revenue decreased somewhat from November’s MOP$7.52 billion (US$933 million) to MOP$6.19 billion (US$768 million), it’s important to keep in mind that November’s gaming tax was influenced by the October Golden Week holiday.

After being initially projected to bring in MOP$50.9 billion (US$6.31 billion), the final gaming tax revenue for 2023 came in at 128.3% more than anticipated.

Gaming taxes accounted for 77.3% of the MOP$84.4 billion (US$10.5 billion) in total tax revenue collected during the year.

For gaming taxes in 2024, the government has set aside MOP83.6 billion (about US$10.4 billion). Tax revenue for the month of January was MOP$1.58 billion (US$196 million), or 8.8% of the total annual budget.

Original story by: IAG