Macau's gaming industry revenues have reached their highest levels since 2020

In July 2025, Macau's gaming industry reported a gross revenue of 22.13 billion patacas (approximately $2.7 billion), marking the highest monthly figure since January 2020. This represents a 19% increase year-on-year and a 5% rise compared to June.
Although the third quarter is typically considered a slow season, the results for July exceeded expectations. Additionally, Macau's gaming operators managed to surpass the previous record set in May 2025, which stood at 21.19 billion patacas (around $2.6 billion).
From January to July 2025, the total revenue for casinos reached 140.9 billion patacas (about $17.5 billion), reflecting a 6.5% increase compared to the same period in 2024. This means the market has already achieved 61.8% of the annual target of 228 billion patacas (approximately $28.4 billion) set by authorities for the entire year.
For three consecutive months—May, June, and July—Macau's casino gross revenue exceeded 20 billion patacas (around $2.5 billion). This is the first time this has happened since 2019, indicating a steady growth trend in the region's gaming industry.
Casino operators are reporting robust performance. For instance, MGM China recently announced record EBITDA for the second quarter and highlighted very strong financial results for July.
Analysts maintain a positive outlook for the second half of 2025, forecasting further growth in gross gaming revenue ahead of the October "Golden Week" (a series of national holidays in China during which citizens enjoy extended time off). Earlier, Citigroup reported a 6% increase in GGR, citing favorable structural conditions, ongoing entertainment industry operations, and improved macroeconomic sentiment in the region.
It is worth noting that shares of Macau casinos have surged by 53% amid a rise in tourism in the area.