Gaming tax revenue down nearly 10% in May

The government reported gaming tax revenue of MOP7.15 billion for May, which is a 9.9% decline from April’s MOP7.94 billion. However, the May figure represented a 25.4% year-over-year increase, which highlights the continued recovery in the territory’s gaming industry.

The May gaming tax revenue corresponds to Macau’s gross gaming revenue (GGR) for April, previously reported by the Gaming Inspection and Coordination Bureau (DICJ) as MOP18.55 billion. This decline in monthly GGR was likely driven by a range of factors.

For the first five months of 2024, combined gaming tax revenue reached MOP37.0 billion, up 78.2% compared to the same period in 2023, according to the Financial Services Bureau (DSF). The government has projected full-year gaming tax revenue of around MOP83.6 billion for fiscal year 2024, with the budget execution rate at 44.3% through May.

Macau’s total government revenue for the first five months of 2024 amounted to MOP43.6 billion, a 72.3% increase year-over-year. Gaming tax from concessionaires accounted for an outsized 84.9% of the total, underscoring the continued dominance of the gaming sector in the territory’s economy.

Macau’s casino revenues are expected to see a low point this year in June, due to a combination of exceptionally wet weather and the impact of China’s university admission exams on family leisure activities, according to a report by banking institution Citigroup. Staff Reporter