The government of Macau reported a collection of just under MOP29.84 billion, equivalent to US$3.71 billion, in gaming tax revenue for the initial four months of 2025. This figure remains unchanged from the corresponding period in the previous year, according to data released by the city's Financial Services Bureau on Wednesday. This stability in fiscal revenue from the gaming sector highlights the consistent performance of Macau's casino operations under the 10-year gaming concession system that was implemented on January 1, 2023. Under this system, the effective tax rate on gross gaming revenue (GGR) stands at 40 percent, a critical component in the city's financial strategy.
It's important to note that the tax figures for any given period and the city's casino GGR for the same time frame are not directly comparable due to several factors. One significant reason is the delay between the recording of GGR in casino operations and the registration of the corresponding tax payment by the Macau government. For the month of April alone, the government collected MOP7.64 billion in gaming taxes, which represents a decrease of 3.9 percent compared to March. This monthly fluctuation indicates the dynamic nature of the gaming industry's impact on government revenue.
Looking at the broader picture, the government's 2025 budget plan projects gaming tax revenue to reach nearly MOP93.12 billion for the entire year. The revenue collected from January to April accounts for 32.0 percent of this annual forecast, suggesting that the government is on track to meet its budgetary goals. Furthermore, taxes from gaming contributed 87.7 percent of the Macau government's nearly MOP34.04-billion current revenue for the four months ending April 30, underlining the sector's significant role in the city's fiscal health.
The total casino GGR for the first four months of 2025 was reported at MOP76.51 billion, marking a slight increase of 0.8 percent from the same period in 2024. This figure represents 31.9 percent of the Macau government's MOP240 billion forecast for the year, indicating a positive trajectory for the gaming sector. However, Chief Executive Sam Hou Fai, in his Policy Address for Fiscal Year 2025 delivered in mid-April, highlighted the potential need for budget revisions due to various factors, including the GGR outlook and pending spending commitments. This statement reflects the government's proactive approach to managing fiscal resources in light of the gaming industry's performance and its broader economic implications.
Source: Macau gaming tax revenue US$3.7bln in first four months of 2025, GGRAsia, May 15, 2025.
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