Macau Tax Revenue Down So Far In 2016

Declining tax revenues reflect a struggling gambling sector

Falling tax revenue so far this year in the gambling island of Macau has illustrated from another perspective the impact on the local gambling sector of the Chinese central government's crackdown on corruption and ostentatious spending, and a slower economy.
The Macau Financial Services Bureau's latest figures show that gambling sector tax revenue fell 14.1 percent in the first five month of 2016 to MOP 33 billion (US$4.1 billion), reducing the overall tax revenue for the island during the period to MOP 40 billion — a decline of 14.3 percent compared with the same period in 2015.
The island government claims that it anticipated and planned for the decline, with Secretary for the Economy and Finance, Lionel Leong, revealing that government planners predict that Macau land casino GGR will reach MOP 200 million by the end of this year, based on the performance in the first five months, and that the decline has been less in year-on-year terms than many expected.

Online Casino News Courtesy of Infopowa

About the Author... Total Posts Written: 9,449
Casinomeister

Casinomeister

The man with the plan here at Casinomeister. Bryan Bailey has been running Casinomeister since its launch in June of 1998. He has watched the industry grow from its primeval stage to what it is now. The Meister has attended nearly 100 conferences in the past 20 years and has either been a speaker or a panel moderator for at least 60 events. He has always been an advocate of fairness and reason and is known to like German beer, a good Scotch, and astrophography.
bryan@casinomeister.com

See More Posts