The Macao government reaped in roughly 7.64 billion patacas (US$949.7 million) in gaming taxes in April, down by 3.9 percent month-on-month, according to the latest figures from the Financial Service Bureau.
When compared to March’s gaming tax haul of 7.95 billion patacas (US$987.75 million), April’s figure represents a drop of 3.9 percent.
Overall, the data indicates that the Macao government earned 29.84 billion patacas (US$3.7 billion) in casino tax revenue between January and April, down by 18.7 million patacas (US$2.32 million, or 0.062 percent) compared to the same period last year.
As for the cumulative tax revenue in the first four months of this year, the government collected 34.37 billion patacas (US$4.27 billion), with gambling taxes representing roughly 87 percent of the total.
For 2025, the annual budget for gaming revenue has been set at 93.11 billion patacas (US$11.57 billion). The government’s earnings from the casino industry between January to April are equivalent to 32 percent of this figure.
[See more: Numerous headwinds are undermining Macao’s GGR potential: expert]
Macao’s six gaming operators are officially projected to generate 240 billion patacas (US$29.81 billion) in gross gaming revenue (GGR) this year. However, there are doubts over whether or not Macao can achieve this figure, given that the GGR since the start of this year has fallen short of the government’s expectations.
To reach the current annual GGR target, the city would need to achieve an average GGR of 20 billion patacas (US$2.48 billion) per month. However, casino earnings in the initial four months of this year averaged only 19.13 billion patacas, hitting 18.25 billion patacas (US$2.26 billion) in January, 19.74 billion patacas (US$2.45 billion) in February, 19.66 billion patacas (US$2.44 billion) in March and 18.86 billion patacas (US$2.34 billion) in April.
In April, Macao chief executive, Sam Hou Fai, made it clear that the GGR in the initial quarter fell below the government’s 2025 budget forecast and that if the monthly GGR were to fall below 15 billion patacas (US$1.86 billion), the city would face a budget deficit.
Analysts also warn of various headwinds that could constrain the growth of Macao’s GGR. Earlier this month, Professor Zeng Zhonglu, a member of the Macao Polytechnic University’s Centre for Gaming and Tourism Studies, listed a number of impediments, including mainland China’s sluggish economy, reduced visitor spending, greater regional competition and stringent gaming regulations.
Last month, U Io Hong of the Macau Professional Association of Gaming Promoters also warned that the US tariffs on China could adversely impact spending among mainland Chinese gamblers, who are the lifeblood of Macao’s casino industry.
