Year-to-date taxes up 175%
Macau’s Gaming Inspection and Coordination Bureau (DICJ) has announced that it collected MOP$6.44 billion ($799 million/€749 million) in tax revenues from casinos across the month of August.
Gaming taxes accounted for 81.3% of the Macau Government’s total income for first eight months of 2023
The latest figures mark a 9.5% increase on the taxes collected in July and represent the highest monthly tax revenue figure since the start of the COVID-19 pandemic. August’s tax haul is derived from July’s casino revenues.
The improvement in tax revenues is attributed directly to the recovery of the gaming industry with rapidly rising gambling revenues climbing steadily each month for the first eight months of 2023. Combined casino revenues for August came to MOP$17.21 billion ($2.12 billion/€1.98 billion) representing an increase of 3.3% compared to July’s total of MOP$16.66 billion ($2.06 billion/€1.93 billion).
The year-to-date total for the first eight months of 2023 is now MOP$39.1 billion ($4.85 billion/€4.5 billion). This is a 175% increase year-on-year.
Gaming taxes account for 76.9% of the government’s budget of MOP$50.85 billion ($6.30 billion/€5.9 billion) for FY23. However, at present, total revenue generated by the government for the year-to-date is MOP$48.1 billion ($5.97 billion/€5.5 billion). This means that gaming taxes contributed 81.3% of Macau’s total income for the period.
