The government of Macau saw a notable increase in fiscal revenue from its gaming industry in 2024. With an impressive collection of nearly MOP88.13 billion (US$11.0 billion), the 2024 figures represented a significant 35% increase compared to the previous year's MOP65.26 billion. This surge in revenue has been attributed to factors within the gaming sector and reflects the city's continuing economic resilience.
Tax Revenue Surpasses Government Expectations
The Macau Financial Services Bureau's recent release highlights a 5.4% increase above the government's gaming tax revenue projections, which initially stood at nearly MOP83.61 billion. This indicates a robust performance by the city's casinos under the 10-year gaming concession regime that commenced in early 2023. It's crucial to note that while the gross gaming revenue (GGR) is substantial, there is a delay between the record of GGR by casino operators and the registration of taxes paid to the government, which is one factor impacting these figures.
Comparison with Pre-Pandemic Collections
In the last year of normal operations before the Covid-19 pandemic, 2019, Macau's gaming tax revenue reached MOP112.71 billion, according to the fiscal budget report for that year. The 2024 number, albeit impressive, reflects a decrease of 21.8% compared to 2019. However, the current upward trend gives reason for optimism. Looking ahead to the 2025 fiscal year, the government anticipates gaming tax revenues to climb further, targeting nearly MOP93.12 billion. The collection for January 2025 already stands at just under MOP7.19 billion, accounting for 7.7% of the annual forecast. This steady recovery trajectory underscores Macau's potential to return to pre-pandemic revenue levels.
Source: Macau 2024 gaming tax revenue at US$11 billion, up 35pct year-on-year. GGRAsia. March 7, 2025.
Posted by Wizard
Mar 07 2025
Mar 07 2025
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