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Up 2.3%

Macau gaming tax revenue tops US$8.3 billion to July

The government of Macau says it collected US$8.3 billion in tax revenue from the city’s gaming industry in the first seven months this year, what represents a 2.3% up so far this year compared to the amount collected in the prior-year period. The latest data indicated that revenue from gaming collected so far in the calendar year accounted for about 89.8% of the US$ 9.25 billion the government collected from all sources.

The government’s Financial Services Bureau releases the data to indicate the general health of the city’s coffers. The figures published on Thursday show the sum collected so far this year is 68.4% of the amount of tax revenue from the gaming industry the government has budgeted for the whole year. The government forecasts it will collect about US$ 12.15 billion this year from the gaming sector.

The latest data indicated that revenue from gaming collected so far in the calendar year accounted for about 89.8% of the US$ 9.25 billion the government collected from all sources.

Government current revenue from all sources so far this year is 65.1% of the amount budgeted for over the course of the whole year.

The government taxes the gross gaming revenue of Macau casinos at a rate of 35%, but other levies on casino gaming raise the tax rate to 39%, in effect. Taxes on the Macau gaming industry also include levies on the income of Chinese traditional lotteries, horseracing, instant lotteries and tax on commissions earned by operators of gambling junkets.

In calculating its budget, the government tends to be conservative about estimating the amount of revenue it gets from gaming. The government has budgeted for a fiscal surplus of more than us$ 2.23 billion for the whole of 2019. At the end of July, its surplus was us$ 4.4 billion, official figures indicate.

The Macau government ended 2018 with a fiscal surplus of us$ 6.66 billion for the full year.

Source: GMB / GGR Asia