Mozambique sees 14.6% increase in casino tax revenue in H1 2024
Revenue from casino taxes in Mozambique saw a year-on-year increase of 14.6% in the first half of 2024, totaling 226 million meticais (approximately €3.2 million). However, this figure fell short of government forecasts, according to data gathered by Lusa.
The revenue generated from the Special Tax on Gaming during this period represents a rise from the 197.3 million meticais (€2.8 million) collected in the same timeframe last year. Despite this growth, the amount collected constitutes only 18.3% of the government's projected total gaming tax revenue for 2024, which is estimated at nearly 1.235 billion meticais (€17.3 million).
Casino taxes accounted for a mere 0.1% of Mozambique's total state revenues in the first half of the year.
Notably, five casino concessions have attracted investments amounting to 2.2 billion meticais (around $36 million), as previously highlighted by President Filipe Nyusi during the opening of the 10th Fikani International Tourism Fair in Maputo. Nyusi emphasized that these investments significantly enhance the tourism sector, with casino operations expanding in major cities including Maputo, Beira, Tete, Nampula, Matola, and Pemba.
The National Directorate of Games of Fortune or Chance regulates casino operations in Mozambique, enforcing strict guidelines. Concessionaires are mandated to maintain a minimum share capital of 170.6 million meticais and invest at least 347.6 million meticais within five years of obtaining their license.
Casinos are subject to a tiered tax structure based on the length of their concessions, with rates set at 20% for concessions up to 14 years, 25% for those up to 19 years, 30% for 20 to 24 years, and 35% for concessions lasting 25 to 30 years. Additionally, operators must pay a Stamp Duty of 50% on entrance ticket prices.
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