The increase in tax collection based on direct taxes on gaming increased the Macau administration’s revenue by 6.0% year on year in January 2017 to 8.99 billion patacas, according to the Finance Services Bureau.
Direct gaming taxes of 35% on gross casino revenues, in January provided tax collection 725.88 billion patacas, or an annual increase of 7.7% after the first month of 2016 compared to the same period of 2015 when there was a drop of 20.5% to 674.2 billion patacas.
In August 2016 Macau’s casinos reversed a series of 26 consecutive months of decreases in gross revenues, which allowed the year to end with an accumulated drop of just 3.3% to 223.210 billion patacas (US$27.901 billion).
In January 2017 gross revenues at casinos recorded year on year growth of 3.1% to 19.255 billion patacas (US$2.406 billion).
Revenues recorded in January accounted for 9.9% of the planned budget for 2017 and expenditure in the same period stood at 2.615 billion patacas, or 3.1% of the total expected for the whole year. (macauhub)