Macau reports mega profits on gambling in record-breaking 2018
- By: Staff Writer
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2018 was a very good year for the Macau Government when it comes to tax income from gambling.
Well, every year is a very good year to be receiving taxes from casinos, but 2018 in particular was a great one in which the city took in $13.21 billion in direct gambling taxes.
The figure is a 13.6% increase on 2017 and represents 80% of the city’s entire revenue.
While none of these figures are particularly surprising, giving that gambling is the city’s biggest industry, they are still astronomical compared to almost every other city on the planet.
Check out some of the stats recently released by the city:
- Aggregate gross gaming jumped 14% to $37.467 billion in 2018.
- The effective tax rate of gambling is 39%.
- The $13.21 billion in taxes was well ahead of the initial Government forecast at the start of the year, which was $10.195 billion.
- 2019 has started off on a strong note — Macau received $1.26 billion in gambling taxes in January, slightly up on 2018, despite a weaker forecast due to the Chinese economy slow-down.
The news follows an interesting story coming out of the city, centred around the city’s ‘King of gambling’, who is going through a legal battle with his own family.
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