The government’s income from gross gaming revenue taxes fell 56.5 per cent year-on-year to MOP 21.0 billion (US$2.6 billion), the Macao Financial Services Bureau (DSF) announced today
Gross gaming revenue (GGR) is defined as the difference between the amount of money gamblers wager minus the amount that they win. Macao’s six rival gaming operators pay 35 per cent of their GGR as direct tax to the government.
GGR taxes generated 83.4 per cent of the government’s total current revenue of MOP 25.2 billion in the first five months of this year. In the same period of last year, income from GGR taxes accounted for 90.6 per cent of the government’s total current revenue.
The government’s total revenue between January and May fell 26.8 per cent to MOP 40.61 billion. Capital revenue accounted for 37.9 per cent of the governments’ total revenue in the five-month period.
Total expenditure rose 38.1 per cent to MOP 32.38 billion, resulting in a surplus of MOP 8.23 billion.
Macao has been severely affected by the economic impact of the COVID-19 pandemic, the tourism, gaming, retail and media sectors in particular.