Macau casino revenue falls 10% in October

Gross gaming revenue (GGR) from Macau's casinos reached MOP 21.68 billion (US$2.68 billion) in October 2026. This figure is 10% lower than in October 2025, a drop of US$298 million. The regulator published the data on Sunday, 1 November.

October marked the fifth consecutive month of year-on-year decline. Even so, GGR rose 1.6% over the first ten months of the year. Six operators earned a combined total of more than US$25.87 billion over the ten months.

The Golden Week holiday and high visitor numbers were not enough to bring about a recovery. October 2025 had produced US$2.98 billion, the highest monthly figure of that year. Analysts had forecast a 7% contraction, and the actual decline came in even below that forecast. Sands tried to attract mass-market visitors by hosting two preseason games between the Houston Rockets and the Dallas Mavericks at The Venetian Arena. However, weakness persisted in the premium mass and VIP segments.

Consumer confidence in mainland China is weak. In May 2026, retail sales fell for the first time in more than three years. Energy costs are linked to the war in Iran. US tariff threats are also restraining spending. Vitaly Umansky, an analyst at Seaport Research Partners, does not expect a quick recovery in November. He projects that GGR will fall 6.1% in November to about US$2.45 billion. He also says that weakness in the stock market and tax inspections targeting offshore trusts held by high-income individuals will continue to weigh on VIP play. Umansky takes a positive long-term view of the market and attributes the current slowdown to a K-shaped recovery and temporary tax concerns.