The Macao government expects the local casino industry’s gross gaming revenue (GGR) to reach 240 billion patacas next year. That’s according to the 2025 budget proposal, which has been submitted to the Legislative Assembly and cited by multiple news outlets.
The 2025 estimate represents a roughly 11 percent increase over the 216 billion patacas that has been forecasted for this year, fuelled by the continued post-Covid rebound of Macao’s visitor arrival numbers.
In terms of its own revenue, the government is expected to record 121 billion patacas next year, with expenses hitting 113.3 billion patacas, creating a budget surplus of 7.7 billion patacas.
In comparison to 2024, projected spending next year is expected to increase by around 7 percent. The government has budgeted a total of 25.78 billion patacas for social welfare, including the “wealth partaking scheme,” the medical subsidy scheme, the water and electricity subsidy measures, as well as the continuous education program.
[See more: October set a new post-pandemic GGR record: 20.8 billion patacas]
A total of 13.94 billion patacas has also been allocated to programs to support students in terms of tuition and the purchase of supplies, as well as various types of subsidies for teachers, the elderly, disabled persons and disadvantaged families.
The government has also designated 3.27 billion patacas for next year’s central provident fund.
Tax cuts will continue into the following year, with reductions amounting to 4.83 billion patacas. These cuts include a remittance of 60 percent of the Macao professional tax for the tax year 2023, with the limit capped at 14,000 patacas. Likewise, the standard reduction of 3,500 patacas in property taxes will extend to next year as well.
Chief Executive Ho Iat Seng is expected to introduce the 2025 budget proposal during his Legislative Assembly work summary for 2024, which will take place on 19 November.
