In June 2024, Macau’s gaming sector continued its robust performance, marked by significant increases in gaming tax revenue compared to previous periods.
Overview of June 2024 Gaming Tax Revenue
In June 2024, the Macau SAR government reported a gaming tax revenue of MOP$7.78 billion (US$967 million), marking an 8.9% increase from May’s figure of MOP$7.15 billion (US$889 million). Year-on-year, this represents a substantial 29.0% growth, reflecting a robust recovery and sustained economic activity in Macau’s gaming sector.
Performance in the First Half of 2024
For the first half of 2024, Macau accumulated a total gaming tax revenue of MOP$44.8 billion (US$5.57 billion), which signifies a remarkable 67.2% increase compared to the same period last year. This surge underscores the resurgence of Macau’s gaming industry following pandemic-related disruptions and regulatory adjustments.
Fiscal Outlook for FY24
The Macau SAR government projects gaming tax revenue for the fiscal year 2024 to reach approximately MOP$83.6 billion (US$10.4 billion). As of June, the budget execution rate stands at 53.6%, indicating a positive trajectory towards meeting or even exceeding annual revenue targets despite global uncertainties.
Contribution to Total Government Revenue
Gaming tax revenue remains a pivotal component of Macau’s fiscal framework, constituting a significant 85.5% of the government’s total revenue for the first six months of 2024. This underscores the critical role of the gaming industry in supporting public finances and broader economic stability.
Macau’s gaming sector has demonstrated robust resilience and growth in 2024, driven by increased gaming tax revenues and optimistic fiscal projections. As the region continues to navigate economic recovery and global dynamics, monitoring these trends will be crucial for stakeholders and policymakers alike to ensure sustainable development and economic resilience.