Gov’t lowers GGR estimate to MOP228 billion for 2025

The government has revised the general integrated budget revenue for this year to MOP116.5 billion, with total expenditure set at MOP116.2 billion, lowering the estimated gross gambling revenue (GGR) for the year to MOP228 billion.

The Executive Council has finalized discussions on the draft law to amend the 2025 fiscal year budget, proposing to lower the estimated gross gaming revenue (GGR) for the year from MOP240 billion to MOP228 billion, which will serve as the primary basis for revised fiscal revenue, with corresponding adjustments to relevant budget revenue items.

The new draft bill will be sent to the plenary meeting at the Legislative Assembly for its final reading and passage by legislators.

Silvestre Ho, deputy director of the Financial Services Bureau (DSF), pointed out that the adjustment was made due to uncertainty in the global economy and changes in the city’s gaming industry.

She referenced data from the Gaming Inspection and Coordination Bureau (DICJ), indicating that GGR from January to April averaged MOP11 billion, with a significant increase to MOP21.19 billion in May.

“However, when we consider the overall budget, it is effectively an annual budget. Analyzing the GGR from January to April, this year’s actual revenue has decreased compared to last year and has not reached the originally estimated MOP20 billion [per month]. While we anticipate that some months in the second half of the year may exceed expectations, the government must ensure sufficient revenue to cover expenditures and maintain the balance of public finances for the entire year,” Ho said.

She added, “Based on an average of MOP19 billion, totaling MOP228 billion for the year, we can achieve a balanced budget for the entire Special Administrative Region.”

The DSF deputy director further noted that, in the overall context and based on the revenue situation in the first half of the year, the relevant GGR budget “remains a very high budget.”

After the revision, the general integrated budgeted revenue for this year has decreased from about MOP121 billion to MOP116.5 billion, while the expenditure budget has increased from MOP113.3 billion to MOP116.2 billion, representing an increase of about MOP2.8 billion. This adjustment includes funding for the construction of the University of Macau’s new campus, as well as increases in departmental operations and subsidies.

In line with the government’s policies to promote scientific and technological development, the Science and Technology Development Fund (FDCT) has had its budget increased by about MOP340 million to support scientific research projects, research platforms, and laboratories.

Regarding the budget for the government’s Investment and Development Expenditure Plan (PIDDA), after adjusting for reductions and additions to various items, the budget has experienced a net reduction of MOP190 million, bringing the final total to about MOP19.5 billion.

Meanwhile, the government has been preparing its fiscal budget for next year. Ho emphasized during a press conference that the government will only spend money when necessary, stating that all public entities must prepare their budgets based on the principle of recovering costs, and that all budgets for new policies or projects must be well-founded and thoroughly justified.