Gaming tax revenue up 6.1 percent in 19Q1

The Macau government has raked in approximately MOP29.6 billion (US$3.7 billion) in gaming taxes for the first three months of the year, representing an increase of 6.1 percent year-on-year.

The sum makes up for 30.1 percent of the total gaming taxes that the government is expecting for the year 2019, which is around MOP98.2 billion.

The gaming taxes also make up for around 87.6 percent of total tax revenue from all sources, proving that gaming continues to drive the SAR’s economy.

Accumulated gross gaming revenue for the first quarter fell 0.5 percent year-on-year, reaching MOP76.2 billion, which analysts said was impacted by enforcement of the smoking ban and an overall slowing of the Chinese economy.

However, some analysts are expecting GGR to bottom out in the second quarter of the year,  with recent tax cuts and credit easing in China likely to help the market return to growth.