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Macau Contributed Massive Gambling Tax
Posted 2/21/11 : China's gambling island delivered 62.3 percent more tax revenue in January 2011
According to data released by the Finance Services Bureau of the Macau Special Administrative Region, the gambling island off the coast of China generated a 62.3 percent increase in tax revenues in January 2011 over the comparative period in 2010.
Gaming taxes accounted for 85.9 percent of Macau's total receipts in January; the total revenue of the city rose 61.3 percent to 8.06 billion patacas ($1 billion), while its total expenditure jumped 225.3 percent to 1.71 billion patacas ($213 million).
The huge increase in expenditure was mostly due to higher transfer payments to the government's autonomous entities and the payment of so-called wealth-share handouts to residents last year, according to a report in the newspaper China Daily.
Land casinos licensed in Macau pay 35 percent of their gross revenues as direct tax to the government.
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Gambling News :
Interwetten 2016 Earnings Results -
Privately-owned online sports betting operator Interwetten delivered robust full year results for the 2016 fiscal period, in which the company has almost achieved doubling its revenues over the past four years, success it attributes to its in-house developed platform
EU Online Gambling Tax Harmoney Dead -
Tax expert says European Court of Justice Attorney General's opinion on UK-Gibraltar litigation signals that EU courts are happy for individual member states to impose their own laws on online gambling.
Jack Lam Facing Big Fines in the Philippines -
It's going to be costly for Macau online gambling and junket tycoon Jack Lam to return to the Philippines following his rather hurried departure last year with allegations of economic sabotage, bribery and tax evasion swirling around him.
PlaySugarHouse To Carry Konami Content -
Content provider Konami will provide its Gypsy Fire and Fortune Stacks slot games to Rush Street Interactive-operated PlaySugarHouse.com on an exclusive basis in the New Jersey real-money online and mobile wagering market.
ITF TERMINATES BETWAY SPONSORSHIP DEAL -
The International Tennis Federation (ITF) has reportedly terminated Betway’s three-year sponsorship partnership as an extension to their anti-match fixing and sports integrity policy.
GSA To Launch European division -
The expansion enables the GSA to better focus on the regional needs of its members outside of North America and underscores its recognition and commitment to growing European membership.
Paddy Power Trading Update -
Company prevails despite adverse sports and US election results; Trump success cost the group GBP 5 million, whilst punter successes took another GBP 40 million in Q4-2016.
Tabcorp SunBets project -
The details were revealed this week in an IT News article quoting Tabcorp's chief information officer, Kim Wenn, who described the SunBets project as Tabcorp's biggest global venture yet.
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