Macau Casino Revenue Falls 10% in October

Macau casinos' gross gaming revenue (GGR) reached MOP$21.68 billion (about US$2.69 billion) in October. That figure represents a 10% decline from MOP$24.09 billion in the same month of 2025. The data was released by the Gaming Inspection and Coordination Bureau (DICJ).

October was the fifth consecutive month in which the sector declined on an annual basis. The sharpest monthly drop of the year was recorded in June, at 12.1%. July saw a decline of 8.4%, while August and September each fell 1.2%.

Revenue in October rose 20% from September, when casinos had earned about MOP$18.06 billion. The Golden Week holiday for China's National Day and the NBA China Games held at the Venetian Macao supported the recovery. However, these factors were not enough to prevent the annual decline.

Analysts had expected a stronger October. CLSA had forecast MOP$24.1 billion for the month, which would have meant flat revenue year on year. The market consensus ranged from a 3.5% decline to a 4% increase. The reported figure fell below that range.

Total revenue from January to October reached MOP$208.80 billion, up 1.6% from the same period last year. The growth, which had exceeded 10% in the spring, has weakened significantly. Revenue in the third quarter, from July to September, fell about 3.7% to MOP$60.4 billion. Mass baccarat revenue declined 7.9%.