Macau Gaming Revenues Poised to Hit Six-Year High with Double-Digit October Growth

Key Moments:

  • Analysts predict Macau’s October gross gaming revenues will rise 13 percent year-on-year, potentially reaching a six-year peak.
  • Q3 2025 achieved post-pandemic quarterly high revenues of MOP 62.2 billion (US$7.75 billion), marking a 13 percent annual increase.
  • Seaport Research Partners highlights risks from future typhoons, but expects continued growth driven by increased marketing and streamlined visa processes.

Factors Driving Projected Revenue Surge

Market experts remain upbeat about Macau’s gaming sector. They anticipate a strong October performance and forecast gross gaming revenues (GGR) to rise about 13 percent compared to last year. This improvement is attributed to fewer travel and visa constraints for visitors from mainland China along with a busy events schedule throughout the city.

September’s GGR, reported by the Gaming Inspection and Coordination Bureau, reached MOP18.3 billion (US$2.28 billion). However, this fell short of forecasts, largely due to disruptions caused by Super Typhoon Ragasa. JP Morgan analysts noted the storm cut up to 10 percent from the monthly total. Casino closures lasted 33 hours, and transportation delays added further losses. In the absence of the typhoon, September’s revenue was expected to display solid double-digit growth.

Strong Performance in Q3 and Golden Week Outlook

The third quarter of 2025 capped off with a notable high: GGR totaled MOP 62.2 billion (US$7.75 billion), standing 13 percent above the previous year’s level and showing a 2 percent increase from the preceding quarter.

Analysts DS Kim, Selina Li, and Lindsey Qian expect this trend to continue into October, especially thanks to the Golden Week festivities. Initial October data shows daily revenue over MOP 1.1 billion (US$137 million), approaching the pre-pandemic Golden Week record of MOP 1.16 billion (US$145 million). After the holidays, daily GGR should stay healthy at about MOP 750-760 million (US$93.5-94.7 million). This points to a substantial year-on-year gain.

Forecasts for early October put the average daily GGR near MOP 930 million (US$115.9 million). As a result, the full month’s total could surpass MOP 23 billion (US$2.87 billion), the highest in six years.

Analyst Perspectives and Cautions

Seaport Research Partners shares these optimistic expectations, projecting a 13 percent year-on-year GGR rise in October. However, they caution that additional typhoons could present downside risks. Vitaly Umansky of Seaport also points to stepped-up marketing, easier money movement, and steady visa service. Together, he says, these factors support Macau’s strong performance.

The company underscores the importance of the city’s vibrant slate of activities and anticipates that a forthcoming US-China trade agreement could buoy consumer attitudes, further encouraging tourism and gaming activity.

Liquidity as a Major Catalyst for Growth

According to Seaport, liquidity remains at the center of Macau’s continued expansion, with spending by premium and upper-middle-tier customers driving revenue. Open financial channels are cited as essential to sustaining this demand.

The 2025 outlook projects an 8.4 percent rise in annual GGR. Moreover, the fourth quarter is expected to lead with 12.4 percent growth, fueled by increasing gaming-focused tourism.

Industry Outlook and Recovery Path

After feeling temporary effects from Super Typhoon Ragasa, Macau’s gaming sector now appears ready for robust growth. Reduced travel barriers and an active entertainment schedule are seen fueling this recovery, with analysts laying out a scenario in which revenues reach their highest point in six years.

Factors such as improved consumer confidence, targeted promotional incentives, and strong liquidity underpin Macau’s progress as it navigates the post-pandemic landscape. These dynamics reinforce its standing as a foremost global destination for gaming and entertainment.

Time PeriodGross Gaming Revenue (MOP)Gross Gaming Revenue (USD)Year-on-Year Growth
September18.3 billion2.28 billionBelow projections (impacted by typhoon)
Q3 202562.2 billion7.75 billion13%
Projected October (full month)23 billion+2.87 billion+13%
  • Author

Daniel Williams

Daniel Williams has started his writing career as a freelance author at a local paper media. After working there for a couple of years and writing on various topics, he found his interest for the gambling industry.
Daniel Williams
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