According to official figures, tax authorities collected MOP$19.11 billion (€2.23 billion) during 2022, a drop of 44% on the total collected in the previous year.
Official gaming revenue data for the year 2022 has shown that gaming tax collected by Macau authorities totaled just 55.9% of government estimates.
The data also reveals that overall gross gaming revenues fell by 51.4% in 2022, to just MOP$42.19 billion (€4.93 billion). This represents the worst GGR year on record.
Much of that loss can be attributed to the numerous casino shutdowns throughout the year due to mass COVID testing. stricter border controls along with the finalization of the new gaming concessions which some companies invested heavily in attaining.
However, the authorities also note that the opening of borders and the return of tourists during the Lunar New Year saw gaming revenues during the month of January rise by 82.5%, reaching MOP$11.58 billion (€1.35 billion).
Analysts hope that January’s figures are indicative of a return to normalcy for the casino industry. However, there is still some way to go before the island territory can hope to reach the revenue figures posted in 2019 prior to the global pandemic.
Based in London, Natasha is a former sports journalist with experience working for some of the biggest athletes & brands in the world of sports and iGaming.