As of the first half of 2025, Macau’s fiscal revenue from gaming rose by 1 percent compared to the same period last year. The city collected nearly MOP45.26 billion (approximately $5.6 billion) in gaming-related tax revenue, according to the latest data released by the Financial Services Bureau.
Gaming taxes: 86.5% of total taxes
In June alone, gaming taxes brought in MOP8.16 billion—a 12.2 percent increase over May’s collection. Gaming taxes accounted for 86.5 percent of the Macau government’s total MOP52.34 billion revenue for the first half of 2025. June’s strong performance was driven by promotional campaigns and junket adaptation under stricter regulatory controls.
Macau’s current gaming tax regime, in effect since 1 January 2023, levies an effective 40 percent tax on 바카라 gross gaming revenue (GGR). This includes a 35 percent direct tax and mandatory contributions to social and economic development initiatives.
Macau lowers 2025 gaming tax revenue forecast by 5%
Recently, the Macau government revised its 2025 income forecast from the 35-percent “special gaming tax” on GGR, lowering it by 5 percent. This adjustment was detailed in an opinion document released by a Legislative Assembly subcommittee. The updated projection now anticipates MOP79.8 billion in direct gaming tax revenue this year, down from the earlier forecast of MOP84.0 billion. The Legislative Assembly approved the amendment to the 2025 fiscal budget on 9 July.
The tax revision follows an earlier adjustment on 3 June, when the government reduced its full-year GGR forecast by 5 percent to MOP228 billion, citing economic uncertainty and changing tourist behavior. The original projection was MOP240 billion.
Ho In Mui, deputy director of the Financial Services Bureau, explained that the revision was influenced by global uncertainty, cautious consumer spending, and year-to-date performance. From January to April 2025, Macau’s average monthly GGR stood at MOP19 billion, falling short of the government’s monthly benchmark of MOP20 billion. Ho stated, “After observing our fiscal income status in the first half of this year, we now assume that if we are reaching MOP19 billion in GGR a month, or MOP228 billion for the full year, that would make a balanced budget for the Macau SAR.”
First five months tax figures
In the first five months of 2025, Macau’s fiscal revenue from gaming remained largely flat year-on-year. The government collected just over MOP37.10 billion in gaming taxes during this period, holding steady compared to the same stretch last year, according to data released on 10 June. For May alone, the government collected MOP7.27 billion in gaming taxes—a 4.8 percent decline from April. approximately 86.4 percent of the total MOP37.10 billion collected between January and May.
In a positive signal for the industry, investment bank CLSA recently upgraded its Macau GGR forecast for 2025 to $30.1 billion, reflecting a 7.6 percent year-on-year increase. The upward revision is attributed to higher tourist arrivals, a stronger Chinese renminbi, and solid performance from major 바카라 operators such as Galaxy Entertainment and Sands China, according to CLSA analyst Jeffrey Kiang.
