Macau’s Gaming Tax Revenue Grows 35% in 2024

Macau collected MOP$88.1 billion ($11 billion) in gaming tax revenue in 2024, marking a 35% increase from the MOP$65.3 billion ($8.15 billion) recorded in 2023. According to the Financial Services Bureau, the total also surpassed the government’s initial projection of MOP$83.6 billion ($10.4 billion) by 5.4%.

Gaming remains the primary source of tax revenue, contributing 80.5% of Macau’s total MOP$109.5 billion ($13.7 billion) tax intake last year. Despite the strong growth, collections remain 21.8% lower than pre-pandemic levels. In 2019, before COVID-19 disrupted the industry, the government collected MOP$112.7 billion ($14.2 billion) in gaming taxes.

December 2024 saw MOP$7.08 billion ($884 million) in gaming tax collected. That was 14.4% higher than the same month in 2023 but 13% lower than November’s total. The December revenue reflected November’s gross gaming revenue (GGR) of MOP$18.4 billion ($2.3 billion).

The new year has started strong, with Macau already reporting MOP$7.19 billion ($896 million) in gaming tax for January 2025. That accounts for 7.7% of the MOP$93.1 billion ($11.6 billion) in gaming tax revenue the government expects to collect this year.

Macau’s casino industry operates under a 10-year concession system that started on January 1, 2023. Casino operators face an effective tax rate of 40% on GGR, though tax collections often lag behind actual gaming revenue due to administrative processes.

For 2025, officials forecast MOP$93.1 billion ($11.6 billion) in gaming tax revenue. The strong start in January suggests Macau is on track to meet that target as the casino sector continues its recovery.