Macau Announces 16% increase in Net Revenue for First Half of 2014

July 16, 2014 |

The government of Macau released information regarding its revenue relating to gambling for the first half of the 2014 year. They reported that revenue increased 16% when compared to the same period of time last year. This is a rather large increase and related to a substantial amount of additional tax revenue for the country.

In total it earned almost $9 million U.S, which exceeds more than half that to what it expects to generate this year. Macau was once a Portuguese colony and is now independent and falls under Chinese rule. The largest portion of the tax dollars generated was from its citizens and those who operate businesses there.

The fact they have achieved the added tax revenue is a positive sign for the country. Gambling revenues did drop slightly last month but that is not a large concern at this stage. It is unknown whether the remaining 6 months will see the same growth or whether revenue will decrease but indications are that this will be maintained. Macau has seen huge growth in the numbers of people who are going there to vacation and gamble. They are surpassing Las Vegas, who has seen its revenue reduced as Macau becomes a popular destination and closer for many to travel to.

Many of the world largest casino corporations has now set up shop in Macau and construction of hotels and entertainment complexes are being built at record pace in Macau. It is expected that growth in visitation will continue to rise as more accommodation, grander hotels and casinos and infrastructure growth continues.

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