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Macau tax take up 203% through first nine months of 2023 to US$5.7 billion

Newsdesk by Newsdesk
Tue 17 Oct 2023 at 04:30
Macau authorities express concern over rise in illegal currency exchange as visitation shows signs of improvement
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The Macau government collected a total of MOP$45.8 billion (US$5.68 billion) for the first nine months of 2023, representing a 203% increase over the same period last year.

The strong improvement includes tax take of MOP$6.65 billion (US$826 million) in September, up 3.3% on August and yet again the highest monthly tally since the start of the COVID-19 pandemic. The September result is related to Macau’s gross gaming revenues for the month of August, which saw the industry generate a post-pandemic high of MOP$17.21 billion (US$2.12 billion) in GGR.

Total revenue generated by the government through September sits at MOP$57.5 billion (US$7.14 billion), meaning gaming tax has contributed 79.6% of Macau-wide income for the period, while gaming tax of MOP$45.8 billion represents 90.0% of the amount budgeted by the government for the full year.

As reported by Inside Asian Gaming, Macau’s recovery slowed in September due to the effects of Super Typhoon Saola, however analysts are expecting October to set another post-COVID high on the back of a strong National Day Golden Week holiday period.

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Newsdesk

The IAG Newsdesk team comprises some of the most experienced journalists in the Asian gaming industry. Offering a broad range of expertise, their decades of combined know-how spans multiple countries across a variety of topics.

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