Macau sees casino tax revenue fall to US$320 million in July

Diposting pada

The Macau SAR Government claimed tax revenue from the citys gaming concessionaires of just MOP$2.56 billion (US$320 million) in July as recovery from the COVID-19 pandemic slowed once more.

The July figure represented a significant decline on the average of MOP$3.27 billion (US$408 million) per month, or MOP$19.64 billion (US$2.45 billion) in total, collected through the first half of 2021, which was already well below the annual budget.

According to figures published by the Financial Services Bureau this week, total gaming tax collected through the first seven months of the year reached MOP$22.20 billion (US$2.77 billion) representing just 44.4% of the MOP$50 billion (US$6.24 billion) the government has budgeted for 2021.

This despite the Gaming Inspection and Coordination Bureau having last month reported a 29.2% month-on-month increase in gross gaming revenue in July to MOP$8.44 billion (US$1.05 billion).

Macau is one of the most heavily taxed casino jurisdictions in the world with an effective tax rate of 39% once all fees and levies are taken into account.

Based on Financial Services Bureau figures, gaming tax has comprised 73% of all government revenue so far in 2021.