Macau, China, 22 Feb – The government of Macau collected US$2.16 billion in direct taxes on the betting and gambling sector in 2005, an annual increase of 12.9 percent, the Directorate of Finance Services (DSF) for the special administrative area said Tuesday.
According to DSF figures, direct taxes on gaming in 2005 represented 72 percent of all government revenues, which totaled US$3 billion.
Macau’s casinos pay a 35 percent on their gross revenues as a direct tax to the local government.
Gross revenues from the gaming industry in Macau in 2005 totaled US$5.97 billion, an annual increase of 8.25 percent.
In the same period, the Macau government’s expenses totaled US$2.08 billion, which represents a budget surplus of US$914.8 million.
Macau has 19 casinos, 16 of which are run by gaming magnate, Stanley Ho.
Forecasts point to there being 25 casinos in Macau by the end of this year with gross revenues of US$6.52 billion. (macauhub)