Gambling in Macau Contributed to Economy by 80% Less in 2020

By | September 13, 2021

News in the finance sector informed that in 2020, the gambling industry in Macau failed to generate revenue enough for considerable contributions to the region’s economy.

The COVID-19 pandemic and its consequences, namely restrictions, prevented gambling from bringing substantial money to a public purse.

Although the drop is huge, gaming remains the main income

As the latest data show, the gambling industry allocated $5.22 billion from its gross gaming revenue to the local treasury in 2020, which was a drop by eighty percent. The reason for the decrease is COVID-19, which has brought many limitations, including travel restrictions and conditions in brick-and-mortar casinos, which have been discussed on the Login Casino site.

In addition to the decline in contributions, the industry’s gross surplus also fell by eighty-eight percent. During previous year, the total amount of the market’s spending was MOP 46.42 billion, which is a sixty-one percent downturn in comparison to 2019. This sum also includes various commissions and bonuses for clients. As for operating costs, they have been damaged by the pandemic as well – there is a drop by 69%.

At the same time, the industry remains the major source of income for the region. The tax from gambling constitutes seventy percent of the overall taxes.

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