Macau lawmakers pass budget forecasting lower gaming tax revenue
The gaming revenue forecast has been lowered by 5 per cent.
Macau.- Macau Legislative Assembly has passed the 2025 fiscal budget amendment bill, which estimates gaming tax revenue of MOP79.8bn (US$9.87bn), 5 per cent lower than previously expected. The updated budget was announced last month in response to the lower-than-expected revenue from the casino sector, which remains Macau’s main economic driver.
The government has cut its GGR estimate from MOP240bn ($29.69bn) to MOP228bn ($28.2bn). At the time of the revised forecast, Ho In Mui, deputy director of the Financial Services Bureau, cited global economic conditions and changes in tourist consumption patterns as factors.
Meanwhile, investment bank CLSA upgraded its Macau’s 2025 gross gaming fevenue growth forecast by 5.8 percentage points from 1.8 per cent to a 7.6 per cent year-on-year increase to HKD234.8bn (USD30.1bn). It cited a mix of favourable currency changes, steady premium mass performance and the launch of new ultra-luxury properties in the Cotai casino district.
CLSA analyst Jeffrey Kiang noted the 1.4 per cent appreciation of the Chinese renminbi against the US dollar in the second quarter as a key driver of stronger Chinese consumer purchasing power since most Macau casino wagers are placed in Hong Kong dollars, which is pegged to the US dollar.
