The final version of Macau’s amended gaming law, which was published on Wednesday, contained a last-minute sting in the tail in the form of a 1 percentage point gain in indirect taxes. Macau has one of the highest gaming tax regimes in the world at an effective rate of 39 percent. That is split between a 35 percent direct tax on gross gambling revenue and additional taxes such as 1.6 percent to fund the Macau Foundation’s charitable activities and 2.4 percent for urban and tourism development. These latter taxes are raised to 2 and 3 percent respectively, taking the effective…