Gross revenue from gambling in casinos in Macau fell in October for the fifth straight month, by 23.2 percent against October 2013 to 28.025 billion patacas (US$3.503 billion), according to official figures issued Tuesday.
The negative percentage change recorded in October is the steepest since June, when the current run of drops in monthly revenue began, with a drop of 3.7 percent.
In July this variation was 3.6 percent, followed by 6.1 percent less in August and 11.7 percent less in September.
From January to October, gross revenue from games of chance grew 2.3 percent to 303.967 billion patacas (US$37.995 million), and the percentage changes have been on a downward trend since February, when revenues rose by 23.7 percent.
Taxes on the gaming sector are the main source of government revenue in Macau that directly charges 35 percent on gross revenues earned and another 4 percent, indirectly, for various purposes such as social spending.
In addition, the casinos pay yearly fees for each table and gaming machine in operation, plus a concession bonus.
At the end of the first half of 2014 there were 35 casinos in Macau owned by six concession holders: 20 in the hands of Sociedade de Jogos de Macau, Galaxy Casino with six, Venetian Macau with four, Melco Crown Gaming (Macau) with three, Wynn Resorts (Macau) with one MGM Grand Paradise with one, with a total of 5,710 tables and 12,895 slot machines. (macauhub/MO)