Macau Government Gaming Taxes Revenue Up by 30.9%

Written on February 25, 2008 by admin

The local government logged 3.962 billion patacas (US$495 million) in total revenue last month, up 37 percent year-on-year, the government said.

The latest statistics released by the government showed that a major share of the total revenue for January this year came from direct gaming taxes, which saw an increase of 30.9 percent year-on-year to 3.09 billion patacas (US$386 million).

Because of the territory’s booming gaming industry, which has seen the opening of its 28th casino by the end of last year, Macau’s gaming taxes grew by 48 percent over the previous year to 29.3 billion patacas in 2007, leading to an overall surplus of 21.8 billion patacas in public finance, according to official statistics.

In its latest research report released Friday, the Bank of China Macau Branch forecast that due to the dynamic development of gaming and tourism industries and ballooning fixed-asset investment in the city, Macau’s GDP will keep a growth rate of 13 percent this year, which is lower than the 27 percent rate of the previous year.