Gross gaming revenue (GGR) from slot machines and table games will be taxed on a scale ranging from 18-30 percent dependent on the total win. The bulk of the gaming taxes will stay in Danville. February’s gambling revenue in Macau was up massively year-over-year as the market passed the one-year mark since the COVID-19 pandemic took hold in China. According to numbers released by the. The company reported a 66% decline in revenue to $480 million from its properties on the Las Vegas Strip, while revenues at its MGM China property in Macau dropped 58% year-over-year to $305 million.

Gaming brought in $7.30bn of SJM’s revenue, down 78.0%. Gaming revenue in Macau as a whole for 2020 was down 79.3% year-on-year following closures and travel restrictions, though the last restrictions for travellers from mainland China were lifted yesterday.

Breaking this gaming revenue figure down further, non-VIP table games brought in $5.86bn, a 76.7% decline. VIP gaming revenue dropped 85.1% to $2.04bn and slot revenue declined 68.0% to $379.3m. This resulted in gross revenue of $8.28bn, of which $971.0m was removed through bonuses and commission.

Hotel, catering and other revenue also declined rapidly, by 71.3% to $202.5m.

SJM’s flagship Casino Grand Lisboa venue brought in $2.07bn in revenue for the year, down 84.0%. Other SJM-promoted casinos brought in $1.35bn, down 78.5% and revenue from satellite casinos – which are operated through service agreements between SJM and third party promoters – dropped 84.5% to $4.85bn.

After paying $3.37bn in gaming taxes and levies, down 78.3%, SJM was left with $3.94bn, down 77.6%.

SJM’s operating expenses came to $7.26bn, with the vast majority, at $7.10bn, in general and administrative expenses. It paid an additional $124.7m in marketing expenses, down 98.0%.

This led to a net loss of $3.15bn, compared to a $3.37bn profit in 2019.

After $22.5m in tax, down 56.4%, SJM’s post-tax loss was $3.17bn, after a $3.32bn profit the year before.

Gaming Revenue Macau Philippines

The business also incurred a $313.7m loss through the change in fair value of investments, leading to a $3.49bn total comprehensive loss, compared to 2019’s $3.27bn total comprehensive profit.