Gaming taxes collected by the Macau government between January and May fell 56.5 percent year-on-year to MOP21 million (US$2.6 million), according to data from the Financial Services Bureau (DSF) on Monday.
TAccording to the government’s budget planning, tax levied on gaming operations had fulfilled 42.1% of the targeted budget so far. The government has lowered the annual gaming tax budget from MOP$98.21 billion to MOP$49.98 billion, indicating it needs to receive MOP$4.16 billion in tax from gaming operators on average each month.
Falling GGR over the last five months has been attributed to border closures and restrictions as a result of the coronavirus outbreak.
In May, the SAR government collected only MOP500 million in gaming taxes, due to gross gaming revenues falling 93 percent year-on-year in the month.
In a note from Bernstein on Monday, the brokerage expects Macau GGR to fall 93 percent year-on-year in June, as the long wait for the lifting of travel restrictions continues.