Macau 2025 budget general reading approved, casino GGR forecast confirmed

The budget assumes a 5 per cent year-on-year growth in GGR.

Macau.- The Legislative Assembly has approved Macau’s budget for 2025 and confirmed the forecast MOP240bn (US$30bn) in gross gaming revenue (GGR) for 2025. The forecast is logically the highest since the Covid-19 pandemic. It would mean a 5 per cent year-on-year growth.

Lei Wai Nong, Macau’s secretary for economy and finance, described the projection as “prudent”, highlighting expectations of a 9 per cent annual increase in tourist arrivals. The proposal now moves to committee evaluations.

This will be the final budget presented by chief executive Ho Iat Seng, who is to be succeeded by former judge Sam Hou Fai on December 20. It anticipates a fiscal surplus of MOP7.7bn, an additional budgetary surplus of MOP 1.17bn and an 18.4 per cent increase in public revenues to MOP121.1bn. Public spending is expected to rise by 10.9 per cent to MOP113.4bn, which includes MOP19.7bn for infrastructure initiatives. Some lawmakers questioned a lack of salary increases for public employees.

In 2023, GGR was MOP183.06bn. That’s a rise of 333.8 per cent when compared to 2022. In the first ten months of 2024, GGR reached MOP190.1bn (US$23.7bn), a 28.1 per cent year-on-year increase. The government anticipates a full-year total of MOP226bn to 228bn.   

Macau’s six casino operators pay a 35 per cent direct tax on gaming revenues, supplemented by additional levies totalling 4 per cent. These funds contribute to the Social Security Fund, urban and tourism development, and the Macau Foundation, which supports cultural and philanthropic initiatives.