Macau Casino Revenue Falls 10% in October

Macau's casino sector suffered a sharp revenue loss in October. According to data from the Macau Gaming Inspection and Coordination Bureau (DICJ), gross gaming revenue (GGR) reached MOP 21.68 billion ($2.69 billion) in October. This figure was MOP 2.4 billion ($297 million) below the MOP 24.09 billion ($2.99 billion) recorded in the same month last year. Revenue rose 20% from September's MOP 18.06 billion ($2.3 billion), pointing to a small recovery.

Expectations were not met despite the Golden Week National Day holiday, one of the busiest periods in the region. Visitor numbers increased year on year, and hotel occupancy exceeded 90% on the busiest days, yet revenue still declined. The NBA China Games held at the Venetian Macao in early October also had no noticeable impact. Record results from October 2025 made the comparison even more difficult.

October marked the fifth consecutive year-on-year decline for the sector. GGR had risen 24% in January and fell 12.1% in June. The decline eased to 8.4% in July and to 1.2% in August and September, then accelerated again in October. Even so, revenue remains 1.6% ahead of last year's level since the start of the year.

Analysts attribute the decline to an increase in tourists and non-gaming visitors who spend less. Rising fuel prices and uncertainty over the US role in Iran are also affecting spending by Chinese consumers. The government's 2026 budget projects annual GGR of MOP 236 billion ($29.2 billion). Reaching this target would require average monthly revenue of about MOP 13.6 billion in November and December. Even if the target is met, however, the year will finish below the 2025 result of MOP 247.4 billion ($30.7 billion).