In November 2024, Macau reported gaming tax income of MOP$8.0 billion (US$999 million), further solidifying its position as a global leader in the gambling sector.
The Financial Services Bureau (DSF) issued this number, which shows a notable 20.3% rise over October’s tax income and a 6.4% increase from the same month last year.
The October gross gaming revenue (GGR) in Macau reached a post-pandemic high of MOP$20.8 billion (US$2.60 billion), which is in line with this increase.
The government’s financial successes were supported by this performance, which was fueled by strong visitor numbers and record-breaking activity over the National Day Golden Week vacation.
Macau earned MOP$81.05 billion (US$10.1 billion) in gambling taxes between January and November 2024, a 37.2% increase from the previous year.
This sum puts Macau in a position to surpass its yearly financial goals, representing 96.9% of the government’s FY24 gaming tax projection of MOP$83.6 billion (US$10.4 billion).
Gaming taxes accounted for an astounding 80.6% of the MOP$100.5 billion (US$12.5 billion) in total government income during this time.
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October Revenue Breaks Records, Fueling Fiscal Success
The tax gains are the result of a very prosperous October in which Macau’s gaming operators produced MOP$20.8 billion (US$2.60 billion) in gross gaming revenue.
The Gaming Inspection and Coordination Bureau (DICJ) reports that this is a 20% increase from September’s MOP$17.3 billion (US$2.16 billion) and a 6.6% increase year over year. Moreover, the October numbers exceeded the May 2024 post-pandemic high of MOP$20.2 billion (US$2.52 billion).
The National Day Golden Week celebration, which took place from October 1 to October 7, coincided with the spike in sales. 993,117 people visited over the week, a 1.9% rise above 2019 levels.
Over the holiday season, hotel occupancy rates averaged 94.5%, with a peak of 98.5% on October 3 and 4. Many analysts revised their sales predictions upward after observing that market momentum persisted after Golden Week.
Macau’s GGR during the first ten months of 2024 was MOP$190.1 billion (US$23.7 billion), which was a 28.1% increase over the same period in 2023. This steady trend demonstrates Macau’s continued recuperation and tenacity in the international gambling industry.
A New Law on Illegal Gaming Strengthens Regulatory Monitoring
In addition to its economic achievements, Macau has made major efforts to fortify its gambling laws. Effective October 29, 2024, the new Illegal Gaming Law imposes severe penalties for unlawful gaming practices, such as “betting under the table” and illicit financial exchanges.
The law’s main provisions target side betting, a common problem in Macau’s casinos, and punish violators with up to eight years in jail. Anyone caught engaging in any kind of unauthorized gambling might be imprisoned for up to six months.
Additionally, people who engage in illicit foreign exchange transactions within integrated resorts face harsh penalties under the law, which include up to five years in jail.
The Judiciary Police have been given more investigative authority, including the capacity to carry out nighttime searches and covert operations, in order to improve enforcement. By addressing the nighttime character of gambling offenses, these approaches enable more effective intervention during hours of high activity.
In order to maintain tight regulation over all gaming operations in Macau, the law also makes illicit internet gambling and unlicensed lotteries illegal.
In addition to judicial dissolution and penalties of up to MOP$18 million (about US$2.25 million), corporations involved in illegal gambling may also have their representatives held personally liable.
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