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The amount of gaming tax collected in 2023 will outstrip official forecasts

By the end of October, the government’s income from gaming taxes had already edged past its target for the whole year.

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By the end of October, the government’s income from gaming taxes had already edged past its target for the whole year.

ARTICLE BY

PUBLISHED

UPDATED: 21 Dec 2023, 11:05 pm

The government has hit its 2023 gaming tax target early, having collected 51.5 billion patacas from Macao’s six gaming concessionaires by the end of October.

It had forecast gaming tax revenue of 50.8 billion patacas for the year – a touch over half of all tax takings it expected to rake across 2023, according to figures from the Financial Bureau cited by TDM.

Just over $5.08 billion patacas were collected in the month of October – down almost 24 percent month on month because the figure is derived from gross gaming revenues (GGR) collected in September, when severe weather and seasonality affected casino takings.

[See more: How would you spend a trillion patacas? (That’s US$124 billion)]

Total tax revenues for the first ten months of 2023 were meanwhile at 76.1 billion patacas, while GGR for the same period stood at a cumulative 148.4 billion patacas

Meanwhile, total expenditure for the period came to 68.5 billion patacas, making for a positive balance of 7.64 billion.

The government recently forecast a surplus of 1.17 billion patacas for 2024.

 

UPDATED: 21 Dec 2023, 11:05 pm

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