In 2024, Macau's gaming industry saw a significant increase in gross surplus before taxes, climbing 24.7% from the previous year to reach MOP143.12 billion (approximately US$17.87 billion). This growth was documented in the annual “Gaming Sector Survey” released by the Statistics and Census Service. The report highlighted a "gradual recovery" in the gaming business as a key factor driving this increase. The gross surplus is calculated by taking the total receipts and adjusting for changes in inventories, while subtracting expenses such as employee compensation, operating expenses, and costs associated with goods, commissions, and customer rebates.
Notably, the total receipts for the sector grew by 23.1% year-on-year to MOP231.45 billion, with almost the entire sum—MOP228.36 billion—stemming from gaming and related services, which themselves experienced a 23.7% rise from 2023.
Increased Expenditures Across the Sector
The robust financial performance was somewhat counterbalanced by a rise in overall business costs. The gaming sector's expenditures, excluding taxes, swelled by 18% to MOP94.37 billion in 2024. A significant portion of these expenditures were "operating expenses," which covered the provision of complimentary services to customers like hotel accommodations and meals, amounting to approximately 43% of business costs. These operating expenses alone surged by 28% to hit MOP40.58 billion.
Another major area of increased spending was within "purchase of goods, commissions, and customer rebates," also up 28% year-on-year, totaling nearly MOP23.2 billion. Meanwhile, employee compensation rose to MOP21.49 billion, a 7% increase, reflecting a growth in workforce, with the number of full-time employees rising 3.1% to 52,426.
Sector Efficiency and Economic Contribution
The efficient conversion of receipts into gross surplus was indicated by the sector's gross surplus ratio, which stood at 62.7% in 2024, a slight increase of 0.5 percentage points from 2023. This metric underscores how effectively the sector transforms its income into profit before tax and other deductions. Additionally, the gaming sector's contribution to Macau's economy, as depicted by its gross value added, rose sharply by 22.1% year-on-year, reaching near MOP164.61 billion.
The report utilized data from nine gaming entities operating within the city, including six casino concessionaires and companies involved in lottery and sports betting activities, offering a comprehensive outlook on the sector's performance.
Source: Macau gaming 2024 gross surplus up 25pct y-on-y to US$18bln, but overall expenses up 18pct: govt, GGRAsia, September 17, 2025.
Posted by Wizard
Sep 18 2025
Sep 18 2025
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