Macau projects city’s casino GGR for 2023 will reach MOP 216.0 billion

The Macau government projects that in 2023, the gross gaming revenue (GGR) of the city’s casinos would amount to MOP 216.0 billion, or around US$26.80 billion. The government provided this estimate in the budget proposal for the fiscal year 2024, stating that as Macau introduces new tourism features and investigates additional visitor-source markets, the number of tourist arrivals is anticipated to rise.

The Legislative Assembly of the city was shown the financial plan, which also projects a surplus in 2024. In 2024, it projects total revenues of around MOP 107.11 billion, including income from the 40% gaming tax, and expenses of approximately MOP 105.94 billion.

In 2024, it is anticipated that the government would receive MOP 75.60 billion from gaming taxes. Moreover, MOP 30.0 million in taxes on commissions that casinos pay to junkets are anticipated to be collected by the government in 2024, a threefold increase over the MOP 10.0 million projected for the fiscal year 2023.

In 2023, the government budget estimates that casino gross gaming revenue will reach MOP 130 billion, with gaming tax revenue coming in slightly higher at MOP 50.85 billion.

The gross gaming revenue (GGR) of Macau’s casinos in the first 10 months of 2023 was MOP 148.45 billion, up 315.6% over the same period in 2022. The government’s fiscal revenue from gaming taxes in the first nine months of the year was MOP 45.77 billion, based on the most recent numbers.

Original story by: GGRAsia