Gaming revenue better than govt’s forecast

Tuesday, July 21, 2009
Issue 769, Page 3
Word count: 257
Published in: Macau Daily Times

By Poyi (Natalie) Leung

The Financial Services Bureau (DSF) disclosed the latest public finance figures yesterday in which the direct gaming taxes in the first half of 2009 registered at over 18.51 billion patacas, a result higher than the government’s forecast.

According to the figures on the DSF website, the total revenue of public finance from January to June this year was reported at 25.52 billion patacas, down by 0.3 percent over the same period of 2008.

Yet, the amount of revenue equalled to 53.1 percent of the revised 2009 budget at around 48 billion patacas.

Of the total revenue, direct taxes from gaming accounted for 18.51 billion patacas in the reporting period, which was already over 62 percent of the overall 2009 budget at 29.71 billion patacas.

Although the revenue from direct gaming taxes dropped by 10.3 percent when compared to the same period of 2008, the result was still better than the government’s prediction listed in the budget plan.

The SAR government estimated that the 2009 gaming revenue would be 29.7 billion patacas, amounting to only 75 percent of the total gaming revenue in 2008.

In regard to total expenditure, it was reported at around 13.23 billion patacas, soared 46.7 percent over the same period of 2008.

The corresponding execution rate was 27.5 percent of the over 48 billion patacas expenditure budget for 2009.

Overall in the first half of 2009 the SAR government logged a surplus of 12.28 billion patacas, down by nearly 26 percent when compared to 16.58 billion patacas in the first six months of 2008.

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