When Beijing launched an anti-corruption crackdown in February 2014 and targeted casinos in Macau, many believed it would be a one-off operation. As the campaign continued in the following months, casinos in Macau reported a significant drop in VIP customers, which accounted for more than 50 percent of all gambling revenue. The crackdown continued into 2015, causing huge losses for Macau casinos as well as significantly reducing government game taxes in Macau.

According to a recent report released by Macau's Financial Services Bureau, in the first five months of 2015, Macau was only able to collect $4.82 billion from direct gaming taxes. This is a 35% decrease compared to the same period in 2014. This huge decline in game taxes is due to a decline in gross gaming revenue (GGR) at Macau casinos, which has seen a steady decline over the past 12 months. The GGR for the first five months of 2015 was 37% lower compared to the same period in 2014.

Macau has the largest casino industry in the world and is responsible for generating billions of dollars in taxes, which gives the Macau government a significant portion of its total tax revenue. In the first five months of 2015, direct taxes from Macau's gambling industry accounted for 82.8% of total government revenue, a 33.8% decrease in tax revenue compared to the same period in 2014.

The collapse of the Macau casino industry is causing serious problems for the Macau government and its citizens, and the cost of living in the country has risen considerably over the past 12 months, and the decline in government revenues is a serious challenge for the government. Macao's government surplus is now down 54.9% compared to the same period in 2015, but the surplus is currently around 18.1 billion MOP, slightly above the government's 2015 revised forecast.

The Macau government previously expected Macau's total monthly game income to be about 27.5 billion MOP, but later revised it to set the standard at 20 billion MOP as the market continued to slump.

The government's new budget is based on estimates that average monthly total gaming revenue will reach 20 billion MOP this year, down from the previous estimate of 27.5 billion MOP. Macau's Economy and Finance Minister Lionel Long Vai Tac recently said that if the monthly GGR falls below 18 billion MOP, Macau will have to revise its public spending cuts.

Industry analysts reported that Macau's casino industry will continue to decline in 2015, even in 2016. The anti-corruption crackdown, which began as a problem for VIP gamblers, soon turned into a casino problem and now into a bigger problem for the Macau government.

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