Revenues from the Macau Casinos Grow
February 11th, 2007Author: Mark Newman
Macau is genuinely interested in the development of the gambling sector what is proved by the number of owned casinos and those planned to be opened. Currently Macau has 24 casinos. And it is being planned to open some more: Grande Lisboa, Venetian, Crown Macau and MGM casinos. The interest comes from the gaming revenues. Thus, in 2006 their gaming and gambling revenues amounted to 55.884 billion patacas. With further development of this sector the figure will definitely rise. It is expected to be approximately 65 – 70 billion this year.
The Macau government applies both direct and indirect taxes on the gambling sector. The direct tax that totals 34% is applied on gaming and gambling, while the indirect tax of 4% is applied on each table and slot machine in a casino.
There are six casino operators in Macau, and Stanley Ho who actually owns Grande Lisboa, is a dominant figure there.
The casino revenues cannot but amaze. So, the Sands casino in Macau has given 58.75% of the operating profit of Las Vegas Sands. The operating profit in the Sands casino totaled $413 million. Thus, it is considered to be the largest gambling venue in the world. As for the Venetian casino, its operating profit totaled $289.9 million.
