The Macau government gathered nearly MOP29.86 billion ($3.71 billion) in fiscal revenue from gaming taxes during the initial four months of 2024, according to the latest data unveiled by the city’s Financial Services Bureau on Thursday.
Year-to-date, the total revenue from such taxes surged by 98.2 percent compared to the same period last year.
In April alone this year, the government amassed around MOP7.93 billion ($1 billion) in gaming tax revenue, marking an 11.2 percent increase compared to the previous month.
Gaming taxes accounted for 83.5 percent of the Macau government’s total revenue in the four-month period ending on April 30th, amounting to nearly MOP35.77 billion ($4.46 billion).
Under Macau’s 10-year gaming concession system, which took effect on January 1st, 2023, the effective tax rate on casino gross gaming revenue (GGR) stands at 40 percent.
The government’s 2024 budget plan anticipates gaming tax revenue to reach nearly MOP83.61 billion ($10.43 billion) this year. The revenue collected in the first four months accounts for 35.7 percent of this projection.
In 2023, Macau authorities collected MOP65.26 billion ($8.14 billion) in gaming tax revenue, surpassing the budgeted amount by 28.3 percent.
