Macau gambling tax revenue plunges in May

Tax revenue from gambling accounted for 83.39 percent of current revenue in the first five months

06/08/20

Revenue fell by 65% in May and totalled MOP 21.0 billion (US$2.6 billion) during the first five months this year.

China.- The Financial Service Bureau of Macau has confirmed that due to the Covid-19 lockdown gambling tax revenues fell by 65.5 per cent in May compared with the same month last year.

Revenue totalled around MOP 21.0 billion (US$2.6 billion) during the first five months this year, which was only 42.09 per cent of the revenue forecast for the period.

Tax revenue from gambling accounted for 83.39 per cent of current revenue in the first five months this year.

Macau’s gross domestic product (GDP) decreased by 48.7 per cent year-on-year in the first quarter of 2020, as the gambling, hospitality and travel industries were severely impacted by restrictions to operate during the COVID-19 pandemic.

The government now forecasts that it will collect around MOP49.98 billion in gambling tax in 2020.

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