Macau’s Gaming Tax Revenue on the Rise in First Half of 2024

With gaming tax revenue rising in the first five months of 2024, Macau’s casino industry is showing signs of a major comeback. Gaming taxes brought in MOP37 billion (US$4.6 billion) for the Macau Special Administrative Region (SAR) government between January and May, up 78.2% from the same time the previous year, according to the Financial Services Bureau (DSF).

Despite a 9.9% decrease from April’s total, May’s gaming tax collection of MOP7.15 billion (US$889 million) represents a robust 25.4% year-over-year gain.

This is in line with the gross gaming revenue (GGR) for April that the Gaming Inspection and Coordination Bureau (DICJ) earlier reported to be MOP18.55 billion (US$2.30 billion).

The Macau government is positive about the growth of the gaming industry going forward.

According to their estimates, gaming tax revenue for the 2024 fiscal year will be MOP83.6 billion (about $10.4 billion). The government’s budget execution rate as of May was 44.3%, meaning they are on course to meet their revenue goals.

Gaming taxes are not the only positive trend. In the initial half of 2024, Macau’s total government revenue surged by 72.3% yearly, amounting to MOP43.6 billion (US$5.42 billion).

Significantly, a particular gaming tax levied on casino concessionaires accounts for a sizeable portion (84.9%) of this revenue.

Original Story by: Asian Gaming Brief