Content Writer: Janice Chew • Monday, 25/10/2025 - 17:41:02 - PM
Macau once again shattered expectations in September 2025, with gaming tax collections reaching a new post-pandemic high of US 1.06 billion—a striking indicator of how the city’s casinos continue to anchor its fiscal recovery. According to recent reporting, this surge was driven by strong gross gaming revenue (GGR) for the period, despite headwinds like tropical storms and seasonal softness.
The broader picture for 2025 remains robust. From January to September, the Macau government collected approximately MOP 70.41 billion (US 8.78 billion) in gaming tax revenue, marking a 6 percent year-on-year rise. This uptick comes even as individual months—like September—displayed mixed dynamics: GGR rose to MOP 18.29 billion (US 2.28 billion), up 6 percent from the same month last year, but down 17.5 percent versus August’s record peak. Analysts pointed to Typhoon Ragasa, which forced all casinos to close for more than 30 hours, as a drag on performance during the month.
This strong performance underlines how gambling remains central to Macau’s economic and fiscal model. Gaming levies still account for the lion’s share of government revenues—over 80 percent in many reporting periods. But the reliance on casinos also means Macau is vulnerable to external shocks: weather events, regulatory shifts in mainland China, and fluctuations in tourism flows all pose risks. Indeed, Macau’s Chief Executive has previously warned of potential budget shortfalls if monthly gambling revenues slip below certain thresholds.
Going forward, the key question is whether Macau can maintain this momentum without succumbing to volatility. The critical fourth quarter—driven by strong holiday travel spells like China’s Golden Week—will test the sustainability of tax gains. Meanwhile, Macau’s leadership and industry stakeholders continue to emphasize the need to diversify away from sole dependence on gaming, nurturing tourism, services, MICE (Meetings, Incentives, Conferences, Exhibitions), and other non-gaming verticals as buffers against shock.