Data released by the Macau Financial Services Bureau for the month of July 2022 reflected optimism with month-on-month improvements in revenue collected by the six gaming concessionaires.
Gaming revenues collected by Macau’s six concessionaires improved 10 percent on an MoM basis, up to MOP13.96 billion ($1.72 billion) as against MOP12.65 billion ($1.56 billion) in June 2022.
The tax data shows the gaming and entertainment sector of Macau trailing on the recovery path.
However, the revenue data was 37 percent down on a year-on-year basis against MOP22.2 billion ($2.74 billion) as reported in July 2021.
The tax authority initially forecasted raking MOP49.76 billion ($6.15 billion) in tax revenues from the gaming segment for the 2022 fiscal year.
Authorized collection approved by the tax body till July 2022 is pegged at MOP34.36 billion ($4.25 billion).
The tax collections till July 2022 reflect 41 percent execution of the authorized collection limits.
Improvement on a month-on-month basis indicates the increased number of visitations to Macau on a month-on-month basis amidst not the zero-COVID scenario.
The year-on-year numbers were largely impacted by the Mainland, Hong Kong, and Macau borders remaining conservatively operational, with travel restrictions. Visitation numbers are picking up, slowly and gradually, data shows.
Of the total tax revenues collected by the Financial Services Bureau, gaming tax revenues contributed 66.21 percent to the July 22 numbers, with direct taxes contributing 14.11 percent, and indirect taxes 7.26 percent.
