Home BUSINESS Growth of Gaming Tax Revenue Nearly Reaches 9% in June

Growth of Gaming Tax Revenue Nearly Reaches 9% in June

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Growth of Gaming Tax Revenue Nearly Reaches 9% in June

In June, the SAR government collected 7.78 billion patacas (US$967 million) from gaming taxes, marking an increase of nearly 9 percent compared to the 7.15 billion patacas (US$889 million) recorded in May. Data from the Financial Services Bureau reveals a substantial rise of approximately 29 percent from the 6.03 billion patacas (US$750 million) collected in June 2023.

This growth in gaming taxes mirrors the significant gross gaming revenue (GGR) generated by gaming concessionaires in May, reaching 20.2 billion patacas (US$2.5 billion)—the highest since the onset of the Covid-19 pandemic in February 2020.

For the first half of 2024, the Macao government accumulated 44.79 billion patacas (US$5.57 billion) in gaming taxes, marking a substantial increase of about 67 percent compared to the 26.79 billion patacas (US$3.33 billion) earned during the same period last year. The government’s 2024 budget forecasts gaming tax revenue to reach 83.61 billion patacas (US$10.4 billion) for the year, significantly higher than the 65.26 billion patacas (US$8.11 billion) earned in all of 2023.

Overall, in the first half of 2024, total government revenue reached 52.74 billion patacas (US$6.55 billion), with gaming tax revenue contributing almost 85 percent to the total.