MACAU TAX REVENUE GROWS 1.5 PCT
During the first eight months of 2019, Macau tax revenue from the gaming industry grew 1.5% to €8.5 billion, the government revealed.
Macau.- Gaming remains the top contributor for Macanese economy. That’s why it’s no surprise that Macau tax revenue grew 1.5% year-on-year during the first eight months of 2019.
The Financial Services Bureau revealed the €8.5 billion figure. It appears to be tracking well with the initial estimates of €11 billion for the year. 77.8% of such amount has been already collected by August.
The Chinese region of Macau owes its economic growth mainly to the gaming industry. Specifically, according to Bernstein Research, VIP and premium players are the top factors that drive the local market.
The financial services firm explained that between 300-400k individual VIP and premium players make up for 70% of Macau’s GGR. The firm released a document titled “The rise of Chinese gaming: A brief history and glimpse into the future of Macau,” in which it highlights that segment.
Analysts Vitaly Umansky and Eunice Lee say that group is growing and each individual travels four times to Macau.
Their research shows that VIPs contributed to €23.8 billion of Macau’s gross gaming revenue in 2018.