Macau’s tax intake from casino gaming in the first six months of 2025 has reached nearly MOP$45.3 billion (US$5.60 billion), according to the latest figures published by the Special Administrative Region’s Financial Services Bureau (DSF). This marks a 1.05% increase compared to the same period last year, when MOP$44.79 billion was collected during the first half of 2024.

June figures boost first half totals:

While this year-on-year rise reflects continued strength in the casino sector, the current figure represents only 48.6% of the government’s annual projection of MOP$93.1 billion (US$11.5 billion) in gaming tax revenue for 2025. The gaming sector’s performance remains under close watch as the SAR aims to meet or exceed its budgetary goals for the year.

According to Inside Asian Gaming, in June alone, the government registered MOP$8.16 billion (US$1.01 billion) in gaming-related tax revenue, which corresponds to May’s gross gaming revenue (GGR) of MOP$21.19 billion (US$2.62 billion). That GGR figure was the highest monthly total recorded since Macau’s recovery from pandemic-era restrictions. Compared to the previous month, June’s tax revenue rose by 12.4%, and it also outpaced June 2024’s figure by 4.9%.

Over the full six-month period, Macau’s cumulative casino GGR reached MOP$118.77 billion (US$14.69 billion), reflecting a 4.4% increase from the same time frame last year. June’s GGR alone saw a 19% year-on-year rise, underlining a modest but steady upward trend in gaming activity.

Despite these gains, the SAR’s gaming tax income is slightly behind where it needs to be to stay on track with this year’s budget. In 2024, the government had anticipated MOP$83.61 billion in gaming tax revenue; by the halfway mark, 53.6% of that had already been collected. By comparison, the 2025 halfway total stands at 48.6% of the current year’s target, indicating a slower trajectory.

Nonetheless, gaming taxes continue to form the backbone of Macau’s public finances. In H1 2025, revenue from gaming made up 86.0% of the SAR’s total income of MOP$52.7 billion (US$6.52 billion), a slight uptick from 85.5% in the first half of 2024. As a result, the government is running a budget surplus of MOP$11.4 billion (US$1.41 billion), which is 166% above forecasted expectations.

Macau’s tax structure and policy framework:

Under the 10-year gaming concession framework introduced in January 2023, Macau imposes an effective tax rate of 40% on casino GGR. This system has created a robust source of revenue, but it also means any fluctuations in gaming performance have an outsized effect on government finances.

It’s worth noting that tax revenue and GGR figures may not always align perfectly due to reporting delays. Tax payments are typically registered after the period in which gaming activity occurs, which explains why June’s tax figure reflects revenue generated in May.

In 2023, the Macau government collected MOP$65.26 billion from gaming taxes, exceeding its budget expectations by 28.3%. The SAR now looks to replicate or surpass that performance in 2025 as it navigates broader economic recovery and increased regional competition.