The Mozambican President, Filipe Nyusi, announced this Thursday (8) in Maputo that five casino concessions in Mozambique have generated investments totalling 2.2 billion meticals (36 million dollars). These “private sector-driven ventures” were encouraged by the government and resulted in significant investment, as the head of state said at the opening of the 10th edition of FIKANI Mozambique, Mozambique’s International Tourism Fair.
Filipe Nyusi explained that these investments are of great importance to the tourism chain, mentioning casino concessions and slot machine parlours in various cities, including Maputo, Beira, Tete, Nampula, Matola and Pemba.
According to the National Directorate of Gambling, the award of casino concessions in the country requires the concessionaire commercial company to have a share capital of no less than the equivalent of almost 170.7 million meticals and to make an investment of at least 348.8 million meticals within five years.
In order to effectively operate games of chance, the concessionaires must pay the state a special tax on gambling, levied on gross gambling revenues, with rates varying between 20 per cent and 35 per cent, depending on the duration of the concession.
“The granting of casino concessions in the country requires that the concessionaire commercial company has a share capital of no less than the equivalent of almost 170.7 million meticals and that it makes an investment of at least 348.8 million meticals within five years”
“The concessionaires must also pay stamp duty, corresponding to 50 per cent of the price of the entrance tickets to the casinos,” states the National Directorate of Gambling, adding that “they are exempt from paying other taxes on profits from the operation of gambling”, as well as import duties on equipment and materials intended exclusively for the operation of the casino.
In June, taxes paid by casinos in Mozambique fell by almost 20 per cent in the first three months of the year, to 4.5 million meticals, compared to 5.5 million meticals in the same period of 2023. This 19.2 per cent drop represents only 5.8 per cent of the revenue that the government estimates it will collect from this tax in 2024, valued at around 78.1 billion meticals.
Revenue from taxes paid by casinos in 2023 had grown by 21.9% compared to the previous year, totalling 23.4 million meticals, compared to 19.2 million meticals in 2022, according to data from the Ministry of Economy and Finance.
