The Macau government’s income from gaming taxes jumped by almost 58 per cent year-on-year in the first seven months of 2024, to almost MOP51.6bn (US$6.4bn), as the SAR’s economy continued its post-Covid economic recovery.
According to budget execution rate information published by the city’s financial department, the boost in gaming taxes helped Macau’s government revenue increase by 49.7 per cent, to MOP61.1bn ($7.5bn), the highest value since 2020, at the start of the COVID-19 pandemic.
Gross gaming revenue jumped by 36.7 per cent year-on-year to some MOP132.2bn ($16.4bn) between January and July of this year.
Under Macau’s 10-year gaming concession system, which took effect in January last year, the effective tax on casino gross gaming revenue is 40 per cent.
In the first seven months of 2024, Macau collected 60 per cent of the current revenue projected for 2024 in the region’s budget, which is MOP102bn ($12.7bn).
Source: Asia Gaming Brief
