Macau Gaming Sector Spending on Goods, Commissions and Rebates Rises 11.6 Percent to MOP25.88 Billion in 2025
Macau’s gaming sector saw its spending under the combined category of purchase of goods, commissions and customer rebate rise 11.6 percent year-on-year in 2025 to MOP25.88 billion, representing approximately 25.5 percent of total expenditure. Total expenditure excluding taxes increased by 7.5 percent year-on-year to MOP101.44 billion. The increase outpaced the overall growth in sector costs in 2025.
SCCG Take — Commission growth signals sustained margin pressure on operators from customer acquisition costs. The 62.9% gross surplus ratio requires disciplined cost control to hold amid ongoing competition.
Macau’s gaming sector spending under the combined category of purchase of goods, commissions and customer rebates rose 11.6 percent year-on-year in 2025 to MOP25.88 billion (US$3.20 billion). The category accounted for 25.5 percent of total expenditure excluding taxes, according to the Statistics and Census Service as reported by GGRAsia. Total expenditure increased 7.5 percent to MOP101.44 billion.
The share of this category rose 0.9 percentage points from 24.6 percent in 2024, when spending stood at approximately MOP23.20 billion. The increase outpaced overall sector cost growth.
Category Growth and Competitive Drivers
Spending on purchases, commissions and rebates had risen approximately 28 percent year-on-year in 2024. The Statistics and Census Service does not provide a separate breakdown for gaming commissions versus purchases of goods and customer rebates. Casino operators increased commissions and incentives to attract premium-mass players amid heightened competition for such customers.
CBRE Equity Research noted that promotional spending would likely remain elevated in the second half of 2026. That assessment followed total gaming commissions as a percentage of aggregate Macau gross gaming revenue hitting a new peak of 20.9 percent in the second quarter.
Operating Expenses and Overall Results
Operating expenses, the largest category, rose 7.7 percent year-on-year to MOP43.72 billion. Compensation of employees increased 6.0 percent to MOP22.77 billion. Non-operating expenses stayed broadly unchanged at MOP9.1 billion. Complimentary goods and services represented 62.6 percent of operating expenses.
The sector recorded total receipts of MOP251.75 billion, up 8.8 percent. Receipts from games of chance totaled MOP247.40 billion, or 98.3 percent of the total. Gross surplus before taxes rose 9.3 percent to MOP156.47 billion, lifting the gross surplus ratio to 62.9 percent. The survey used data from eight entities, down from nine the previous year.
Reporting: GGRAsia
Generated by SCCG’s automated editorial system from published source reporting. SCCG Management holds editorial responsibility.
Customer acquisition costs are rising faster than revenue, putting sustained pressure on operator profitability and disciplined cost control.
We've partnered across Asia for three decades, and this data confirms what our Macau network sees daily: the fight for premium-mass players is expensive and accelerating. Operators chasing share are paying for it in margin compression. That 62.9% gross surplus only holds if costs stay disciplined — and right now, they're not.
- Commissions and rebates hit MOP25.88B, up 11.6% — outpacing overall cost growth at 7.5%
- Category now 25.5% of total spend, up from 24.6% in 2024 as competition for premium players intensifies
- Q2 2026 commissions peaked at 20.9% of GGR; promotional spend expected to stay elevated
SCCG angle: SCCG's Asia regulatory and operator network can help clients benchmark acquisition costs, identify efficiency opportunities in premium-mass channels, and connect with technology and loyalty partners proven in high-competition markets like Macau. We've seen this cycle before and know where the smart money adjusts.
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