Macau Casino cuts comprehensive tax levy

It donated just over $319.63 million in total game tax as it continues to be negatively impacted by the impact of the coronavirus pandemic.

Official information from the region’s financial services bureau showed a drop of about 24% compared to the average monthly total before the pandemic of about $488.28 million, but nonetheless more than five times higher than the $50.24 million recorded in the same period last year.

Macau is home to some of the world’s biggest and most famous gambling venues, including SJM Holdings Limited’ iconic casino Grand Lisboa and Melco Resort & Entertainment Limited’s giant studio city Macau. All of these operations reportedly require a 35% total game tax on all live dealer tables, game consoles and VIP rooms with a validity rate of approximately 39%.

Macau collected about $2.45 billion in casino gaming taxes in the first six months of the year, and that figure rose to about $2.77 billion as of July, 55.6% lower than the $6.24 billion previously budgeted by the government. The source explained that all this was done despite the fact that Gaming Inspection and Coordinating Agency regulators announced that total Gaming revenues from all UK residences rose 29.2% month-on-month to $1.05 billion during the highlighted period.

Taxes from casino gaming have reportedly brought in 73% of its annual cash so far, with hopes high that many gambling-friendly places in the region are well on their way to recovery after the monthly gross gaming revenue has risen year-on-year since February. But the development was reportedly at risk in June as city leaders responded by introducing a series of travel safety devices that would require them to arrive from a number of mainland cities and quarantine for at least two weeks in the event of a coronavirus outbreak in neighboring China.

The blitz of large-scale testing of residents after recording their first positive coronavirus case in more than a year early last month involved a family of four who later crossed the border to visit friends in the Chinese metropolitan city of Zhuhai. Although the measure ultimately did not detect any new infections, officials are reportedly wary of fully lifting the lid on many public health and social distancing measures in the region.


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