written and last updated by
Sam Smith at
16 Oct 2023
Journalist, Editorial Department
In the first nine months of this year, Macau generated 45.77 billion patacas (approximately 553.66 billion rubles) in tax revenue from its gaming industry, according to the city's Financial Services Bureau. This figure represents a staggering 202.7% increase compared to the total tax revenue for the same period in 2022, when pandemic-related restrictions were still in place.
In September 2023 alone, the government collected around 6.65 billion patacas (about 80.44 billion rubles) in gaming taxes, marking a nearly 3.3% rise from the previous month.
From January to the end of September 2023, the total gross revenue of Macau's casinos reached 128.95 billion patacas (approximately 1.56 trillion rubles), more than 305% higher than the same period in 2022. The effective tax rate on the gross gaming revenue (GGR) stands at 40%, a rate established in January as part of a new ten-year concession agreement between the government and Macau's casino operators.
It is important to note that there is typically a lag between the registration of gaming revenue and the actual payment of taxes on that income. As a result, tax collection figures for specific calendar periods cannot be directly compared to the GGR of Macau's casinos.
According to the government's budget plan, tax revenues from the gaming sector are expected to exceed 50.85 billion patacas (over 615 billion rubles) this year. The amount collected in the first nine months of 2023 has already reached 90% of the anticipated total.
A significant factor in the recovery of Macau's gaming industry and the increase in tax revenues was the Golden Week, an official holiday period in China. From September 29 to October 6, nearly one million visitors traveled to Macau, as reported by the local Tourism Office.
Notably, 49% of Americans reported having gambled in the past year.
