written and last updated by
Sam Smith at
17 Nov 2023
Journalist, Editorial Department
In the first ten months of 2023, tax revenues from the gambling sector in Macau reached 51.55 billion patacas (approximately 571.7 billion rubles), according to the city's Financial Services Bureau. This figure represents a staggering 215.7% increase compared to the tax revenues recorded from January to October 2022, a period during which strict travel restrictions due to the COVID-19 pandemic severely impacted the gaming market.
In October alone, the Macau government collected just over 5.78 billion patacas (around 64 billion rubles) in tax revenue from the gambling industry. However, this amount is 13.1% lower than the revenue reported in September.
Macau's gross gaming revenue for October reached its highest level since the onset of the pandemic, totaling 19.5 billion patacas (216.3 billion rubles), which is an impressive 400.2% increase compared to the same month last year. The previous record was set in August 2023, with a gross gaming revenue of 17.21 billion patacas (over 190 billion rubles).
In January, the government signed new ten-year contracts with Macau's casino operators, granting them the right to conduct legal business in the city. This concession system includes a tax rate of 40% on gross gaming revenue.
For the first ten months of 2023, the total gross revenue of Macau's gaming market amounted to 148.45 billion patacas (1.65 trillion rubles), marking a 315.6% increase compared to the same period last year. According to the government's budget plan, total tax revenues for the entire year of 2023 were projected to be just over 50.85 billion patacas (nearly 564 billion rubles). However, with two months remaining in the year, the amount of taxes paid by the industry has already exceeded expectations by 1.4%.
It is worth noting that Ontario's iGaming market generates three times more revenue compared to other provinces.
