Macau has collected over $8 billion in gambling tax revenue for the first seven months of 2019 to June.
According to the figures released by Macau’s Financial Services Bureau, Macau government received MOP67.21 billion (US$8.32 billion) in tax revenue from its casino gambling industry. The figures represent a 2.3 percent year-on-year increase.
For the same period the previous year, the Macau government had collected MOP65.72 billion.
The figures released Thursday also revealed that Macau government has already received nearly 69 percent of the projected earnings for this year ending December. The government projected estimates for gambling tax revenue is MOP98.23 billion.
As gambling remains the highest contributor to the city’s tax revenues, this year so far, the revenue collected from the casino industry represent a total of 89.8 percent of the MOP74.81 billion collected.
Casinos in Macau have been struggling with slumping revenue growth as the Sino-US trade war is taking a toll on the number of VIP visitors at Macau casinos.
The recent and ongoing Hong Kong protests have also been a cause of concern for gambling operators in Macau.
In a recent interview, Matt Maddox, CEO of Wynn Resorts which operates Wynn Macau said: “When you have hundreds of flights canceled out of Hong Kong and some reluctance to travel, I do think that’s impacting the premium end of the business.”