Saturday, August 13, 2022

Macau junket tax revenue up 17 % in 2018


The Macau government collected MOP394.1 million (US$48.8 million) in taxes on commissions paid to casinos by junket operators in 2018, an increase of 17 percent year-on-year, local media reports. 

Currently, the government collects a 5 percent tax on commissions or other fees paid to gaming promoters. Junket operators typically receive a share of revenue, or commission no higher than 1.25 percent of rolling chip turnover.

It was towards the end of 2018 when analysts were signaling a slowdown in China’s economy, which would affect GGR going into 2019. Gross gambling revenue in Macau rose 14 percent in 2018, largely in line with expectations.

VIP turnover has been challenged over the last few months, due mainly to US-China trade tensions, and negative sentiment relating to Suncity scrutiny, along with macro factors in China.

The report also noted that the government received around MOP106.5 million in gaming taxes in 2018, increasing 13.6 percent year-on-year.

The report also noted that taxes collected from the Macau Jockey Club for horse racing betting fell 77.7 percent to MOP1.8 million, due mainly to unclaimed 2018 premiums compared to 2017. 

It also reported that taxes collected for instant lottery and sports betting to Macao Slot Co. increased 34 percent year-on-year, while Chinese lottery revenue from Sociedade de Lotarias Wing Hing, Ltd. increased 35.2 percent. 

Asia Gaming Brief is a news and intelligence service providing up to date market information for worldwide executives on relevant gaming issues in Asia.

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