Macau gaming tax revenue reached MOP42.52 billion in the first five months of 2026, up 14.6 per cent from the same period a year earlier, according to figures released by the Financial Services Bureau.
The total represents 46 per cent of the Macau government’s full-year gaming tax revenue target, highlighting the continued importance of the gaming sector to public finances.
Gaming taxes generate nearly 85% of government revenue
Gaming taxes accounted for nearly 85 per cent of government revenue in the five months to 31 May. Under Macau’s 10-year gaming concessions, which came into effect on 1 January 2023, casino operators pay a 40 per cent tax on gross gaming revenue (GGR). The Macau government’s 2026 fiscal budget projects gaming tax revenue of MOP92.7 billion for the full year.
Macau gross gaming revenue reaches MOP22.61B in May
Figures from the Gaming Inspection and Coordination Bureau (DICJ) showed that Macau gross gaming revenue reached MOP22.61 billion in May. The monthly total was 13.7 per cent higher than April’s MOP19.89 billion. For the first five months of 2026, Macau gross gaming revenue totalled MOP108.38 billion, up 10.9 per cent year-on-year.
Gaming tax revenue for May totalled MOP7.65 billion, down 15.6 per cent from April. Between January and April, the Macau government collected MOP34.87 billion in gaming tax revenue, an increase of 16.8 per cent compared with the same period in 2025.
Analysts forecast Macau GGR growth in 2026
CBRE Equity Research forecasts Macau GGR growth of 8.3 per cent in 2026. The forecast follows Macau’s 2025 performance, when total gross gaming revenue reached MOP247.40 billion. CBRE cited consumer demand, visitor arrivals and growth in the mass-market gaming segment as factors supporting Macau gaming revenue.
Separately, S&P Global Ratings forecasts Macau GGR growth of between 3 per cent and 7 per cent in 2026. The ratings agency said visitor growth and premium mass-market demand are expected to support casino operators, while noting that China’s consumer spending environment remains a factor to monitor.
CreditSights highlights non-gaming revenue challenges
Macau’s non-gaming sector continues to expand, although future growth may depend more on visitor arrivals than spending per tourist, according to a report by CreditSights.
The research firm said slower economic growth in China could limit growth in average non-gaming spending despite increases in tourism and gaming activity.
CreditSights added that it does not expect significant near-term growth in non-gaming spending per capita in Macau. The firm pointed to China’s revised 2026 economic growth target of between 4.5 per cent and 5 per cent, compared with the “around 5 per cent” target maintained between 2023 and 2025.
Macau delays non-gaming GDP target to 2030
Macau has postponed its target for non-gaming industries to contribute around 60 per cent of gross domestic product from 2028 to 2030. The revised timeline was included in the consultation draft of the Macau Economic and Social Development Plan (2026–2030), released this week.
The target remains unchanged, although authorities have extended the timeframe for achieving it by two years. The adjustment follows changes to Macau’s long-term economic diversification plans as gaming revenue continues to account for the majority of government income and economic activity.
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