Last week, the Chief Executive-designate Ho Iat Seng told state broadcaster China Central Television that it is “unhealthy and unsustainable” if Macau tries to develop itself on the basis of a single industry.
On the other hand, the Macau government’s budget proposals put forward the estimate that it will collect US$11.2 billion in gaming taxes in 2020, suggesting no growth in the coming year.
This appears to be a conservative estimate, especially as authorities have already collected more than U$ 106.2 billion in gaming tax revenue in the first nine months of 2019.
Earlier this month, Fitch Ratings said it expects Macau gross gaming revenue growth to be in the low single digits in 2020, with strength in the mass market offsetting flat VIP growth.
The Macau government collects a 35% tax on casino gaming revenues, but other levies raise the effective tax rate to about 39%.
Source: GMB / AG Brief
