Macau gaming tax revenue roughly unchanged through May 2025
In the first five months of 2025, Macau’s fiscal revenue from gaming remained largely flat when compared to the same period last year. The Macau government has collected just over MOP37.10 billion ($4.59 billion) in fiscal revenue from its gaming sector, holding steady compared to the same stretch last year, according to official data released by the Financial Services Bureau on 10 June.
Tax collected in May
For the month of May, the government has collected MOP7.27 billion in gaming taxes, down 4.8 percent from April. contributed nearly 86.4 percent of the total MOP37.10 billion that the government collected from January to May. Under Macau’s current gaming regime, which has been in place since 1 January 2023, levies an effective tax rate of 40 percent on 바카라 gross gaming revenue (GGR).
GGR and tax forecast for 2025
Earlier this month, Macau government trimmed its GGR forecast by 5 percent for 2025 to MOP228 billion, citing mounting economic uncertainty and shifting tourist behaviour. Originally, the GGR for the year was forecast to be about MOP240 billion. According to Ho In Mui, deputy director of the Financial Services Bureau, the revision was driven by a mix of global uncertainty, cautious consumer behaviour, and current-year performance. CreditSights also warned that the city remains on a difficult path to achieving its ambitious full-year revenue target.
The updated projection comes as part of the city’s revised 2025 fiscal budget plan. As per the original 2025 budget plan, revenue from gaming taxes was projected to reach about MOP93.12 billion this year. However, owing to the trimming of GGR forecast for 2025, the revenue from gaming taxes is also expected to take a hit.
For the first four months of 2025, Macau’s fiscal revenue from gaming came just under MOP29.84 billion, remaining largely flat when compared to the same period last year. Gaming taxes contributed nearly 88 percent of the total MOP34.04 billion that the government collected from January to April. For the month of April, Macau registered MOP7.64 billion in gaming tax receipts, reflecting a 3.9 percent month-on-month decline.
GGR so far
In May, Macau’s Gaming Inspection and Coordination Bureau (DICJ) recorded the highest monthly GGR since the Covid-19 pandemic. For the month, GGR totaled MOP21.19 billion, a 5 percent year-on-year rise and a 12.4 percent increase over the MOP18.86 billion registered in April. Cumulatively, GGR for the five months of this year totaled MOP97.7 billion, compared to the MOP96.05 billion generated in the same period last year.
Meanwhile, consumer demand for Macau 바카라 gambling has reportedly remained “healthy” in early June, according to a note by JP Morgan Securities (Asia Pacific) Ltd. Analysts said the gross gaming revenue (GGR) for the first eight days is estimated to be MOP5.2 billion or MOP650 million a day.
