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Macau’s gaming tax income hits 58% rise
In the first seven months of 2024, Macau’s income from gaming taxes rose by 58%, marking a MOP of 51.6bn, equal to US $6.4bn.
Across the Pearl River Delta from Hong Kong, Macau is an autonomous region on the south coast of China. It is the only jurisdiction in the People’s Republic of China (PRC) where casino gaming is lawful.
According to a survey conducted by budget execution, the previous rise in gaming taxes helped Macau to increase its government revenues for 49.7%, MOP61.1bn equal to $7.5bn. The country continues its post-Covid economic recovery, and these results are the highest since 2020.
Gross gaming revenue rose by 36.7%, MOP132.2bn equal to $16.4bn between January and July of this year.
Under Macau’s 10-year gaming concession system, which took effect in January last year, the effective tax on casino gross gaming revenue is 40%. In the first seven months of 2024, Macau collected 60% of the current revenue projected for 2024 in the region’s budget, which is MOP102bn, equal to $12.7bn.
FAQs
Is gambling legal in Macau?
Macau is the only place in China where gambling is legal.
What is the legal gambling age in Macau?
The legal gambling age in Macau is 21.
What was the percentage increase in Macau’s income from gaming taxes in the first seven months of 2024?
In the first seven months of 2024, Macau’s income from gaming taxes increased by 58%, reaching MOP 51.6 billion (approximately US$6.4 billion).
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