Gaming taxes in Macao reach US$9.22bn in first nine months of 2026

The government of Macao collected MOP74.56 billion (US$9.22 billion) in gaming-related tax revenue in the first nine months of 2026, according to figures published by the Financial Services Bureau. The amount represents an increase of 5.9% versus the same period in 2025. In September, gaming tax receipts were MOP8.39 billion, a monthly rise of 7.4%.

## Breakdown of receipts and the link to GGR

Under the ten-year gaming concession system that came into force on 1 January 2023, the effective tax on gross gaming revenue (GGR) for casinos is 40%. The MOP74.56 billion figure is cumulative tax collection and should not be confused with a direct GGR figure, because there are timing gaps between when operators record GGR and when the government actually receives the corresponding tax payment.

The Financial Services Bureau also reported that casino GGR in September was MOP17.84 billion, which is a year-on-year decline of 1.2%. That divergence between GGR trends and tax receipts highlights the effects of settlement timetables and other accounting factors that prevent a one-to-one comparison between the two series.

## Gaming taxes in Macao as a share of government revenue

Gaming-derived taxes represented approximately 84.1% of Macao’s current government revenue in the nine months ending 30 September, on a total of MOP88.71 billion in current revenue. The local Executive projects to collect nearly MOP92.53 billion in gaming taxes for the full year 2026; the amount collected in the first nine months equals 80.6% of that projection.

The government expects GGR to reach MOP236 billion in 2026. City leader Chief Executive Sam Hou Fai said on Saturday there are currently no plans to revise that annual GGR forecast.

## How to interpret the figure: timing and projections

The figures published by the Financial Services Bureau are fiscal in nature and reflect payments actually received by the treasury. By contrast, GGR reported by operators shows economic activity within a given period. The timing gap can come from several sources:

• - settlement periods between companies and the administration;

• - accounting adjustments or audits that affect the taxable base; and

• - differences in the treatment of deductions and tax credits.

That timing difference means an increase in tax receipts does not always coincide immediately with identical increases in the GGR reported for the same month.

## Implications for the industry and Macao’s budget

That gaming taxes account for more than four fifths of current government revenue keeps Macao in a fiscally dependent position on the gaming sector. The MOP92.53 billion annual projection and the expectation of MOP236 billion in GGR imply that sector performance in the final stretch of 2026 will continue to condition public resources.

Operators and suppliers will watch closely whether actual GGR follows the pattern expected by the Executive. A slowdown in the final quarter could force revisions to future budget estimates, because the government has already achieved more than 80% of its collection target in the first nine months.

## What the numbers mean for regulators and operators

The effective 40% tax on GGR, stipulated under the ten-year concession framework, keeps a high fiscal burden on casinos' gross revenue. For regulatory and fiscal authorities, the priority is to ensure traceability between operator-reported GGR and the tax payments received by the Financial Services Bureau.

For operators, revenue allocation and cash flows tied to tax payments condition financial planning and investment decisions in the Macao market. The stability of the government’s forecast and the absence, for now, of changes announced by Chief Executive Sam Hou Fai reduce immediate uncertainty over fiscal rules.

## Operational context and links of interest

The concession framework currently in force began on 1 January 2023 and sets the sector's fiscal and operational conditions. Market analysts and technology suppliers will continue to monitor monthly GGR and tax collection trends to calibrate demand for products and services in the local market. For related reading, sector coverage on [casino](/casino) and [regulation](/regulation) can provide background on Macao’s tax and concession structure.

“There are no plans for now to adjust the annual GGR forecast,” Chief Executive Sam Hou Fai said on Saturday, reaffirming the government’s MOP236 billion projection for 2026.

The next monthly data releases will show whether tax collections continue to grow faster than GGR or whether the two indicators converge by the fiscal year end.