Content Writer: Janice Chew • Friday, 25/09/2025 - 22:36:43 - PM
Macau’s government has collected MOP 61.88 billion (≈ US$7.71 billion) in gaming-tax revenue in the first eight months of 2025, an increase of 5.3% year-on-year. In August alone, tax receipts from gaming stood at around MOP 8.51 billion. Under Macau’s current 10-year gaming concession regime, which took effect from January 1, 2023, casinos are taxed at an effective rate of 40% on gross gaming revenue (GGR).
Gaming also continues to be the backbone of Macau’s tax base. The data shows that gaming taxes accounted for about 86% of the government’s current revenue in the period up to end-August, which totalled MOP 71.99 billion. Casino GGR in August reached MOP 22.16 billion, marking the strongest monthly performance since January 2020 (i.e., before COVID-19 disruptions). Year-to-date GGR stands at MOP 163.05 billion, up 7.2% from the same period last year.
However, there are signs of caution beneath the strong headline numbers. Earlier in the year, the Macau government reduced its full-year forecast for GGR to MOP 228 billion (from a previous MOP 240 billion) due to uncertainties or weaker trends in parts of the market. Additionally, brokerages are revising their full-year projections upward: Jefferies now expects GGR to reach MOP 248 billion, while CLSA has similarly raised its forecast. These mixed signals suggest investor optimism but also recognition that Macau’s gaming sector remains sensitive to external headwinds such as changes in tourism, regulation, or economic factors.
