Macau Enjoys a Rise in Gaming Revenue for First Half of 2023
LISTEN TO THIS ARTICLE:The government in Macau has announced it has seen a rise in gaming tax to US$3.33 billion for the first half of the year.
The gaming revenue at Macau for the first half of 2023 was MOP$26.8 billion which meant the region has enjoyed a rise in revenue up from MOP$12.94 billion last year, a growth of 107% when compared to the same period in 2022.
The 1H23 tax figure was aided by a strong result in June, when tax revenue reached around MOP$6.0 billion (US$746 million). This was improved from MOP$5.7 billion (US$708 million) in May and the highest since Macau’s borders reopened on 8 January 2023.
The government in Macau has estimated in its yearly budgets that the revenue from gaming will be around MOP50.85 billion, and the revenues accumulated for the first half of the year amount to 52.7% of this figure.
Strong June Revenues
The figures in June saw the gaming revenues in Macau at their highest since the country has been fully reopened. The gaming spend was MOP$6.0 billion (US$746 million) for June, up from MOP$5.7 billion (US$708 million) achieved in May.
Related: Macau’s Gaming revenue rises in June.
Recovery in May After Covid Restrictions Lifted
The restrictions placed on tourists due to Covid 19 had a significant impact on gaming revenues in Macau, and these restrictions were finally removed in January of 2023.
This has led to a steady recovery of gaming revenue throughout the year and saw a boom in visitor numbers and a recovery in spending on gaming in May.
More Finance News
RELATED TOPICS: Finance
Latest News
Most Read
Must Read
Interviews
When Helping Others Is a Life-Long Mission - An Interview with Gordon Moody CEO, Monica Shafaq
Dec 17, 2024
Interviews
Review this New Post
Leave a Comment
User Comments
Comments for Macau Enjoys a Rise in Gaming Revenue for First Half of 2023