Some 21.92 billion patacas (US$2.74 billion) in gaming taxes were collected in the first quarter of 2024, according to figures from Macao’s Financial Services Bureau cited in multiple gaming news outlets.
The sum represents a 116.8 percent rise compared to the 10.11 billion patacas (US$1.2 billion) collected in the same period in 2023.
Gaming taxes represent more than 84 percent of the total revenue of 26.04 billion patacas (US$3.2 billion) collected by the local government in the first three months of this year.
[See more: Mass-market baccarat revenue soars year on year]
The official tax rate on gross gaming revenue (GGR) is 35 percent. Last year, the authorities collected a total of 65.26 billion patacas (US$8.1 billion) in gaming taxes.
Macao generated 57.33 billion patacas (US$7.1 billion) in gross gaming revenue (GGR) for the first quarter, according to the Gaming Inspection and Coordination Bureau.
Estimates on the amount of GGR Macao will generate in 2024 range as high as 234 billion patacas (US$28.98 billion).
