The first quarter numbers are in for Macau, with 2019 already resulting in a nice increase in gaming tax revenue. Macau has seen over MOP29.64 billion generated, which equals to $3.67 billion USD. The Financial Services Bureau released the information regarding the first quarter numbers, showing a increase in direct tax of 6.1% regarding the gaming sector.
January through March generated over MOP 29.64 billion from gaming in Macau, which is much more than the MOP27.94 billion generated during the first quarter of 2018. The increase was seen in the region despite a decrease in gross gaming revenue for casinos in the region when compared to year-on-year totals for the first quarter.
According to GGRAsia…
The latest figures show that revenue from gaming that has been collected so far this year accounts for around 87.6% of a grand total of MOP33.83 billion from all sources. Casinos are taxed 35% of their gross gaming revenue in Macau but other taxes placed on gaming at casinos push the total rate to 39%.
Gross Gaming Revenues:
Across the market, the gross gaming revenues from the first quarter this year for Macau were down by 0.5% based on year-on-year figures. The total amount came in at MOP76.15 billion. The month of January was a downer as marked the first time the gross gaming revenues were down for a YoY monthly decrease since 2016.
In Macau, the gaming sector has certain taxes set on revenues from particular offerings including instant lotteries, traditional Chinese lotteries and horse racing. The commissions earned by gambling junket promoters are also taxed.
For the 2019 budget, the government of Macau estimates that as much as MOP98.23 billion will be collected from gaming via direct taxation.