Macau’s casinos reported gross gaming revenue (GGR) of MOP21.06 billion (US$2.6 billion) in June 2025, reflecting a 19% year-on-year increase, according to the Gaming Inspection and Coordination Bureau (DICJ).
Though slightly below May’s MOP21.19 billion, June marked the second straight month with GGR above MOP20 billion. Despite a 0.6% dip month-on-month, the performance exceeded analyst expectations. Citigroup attributed the surge to premium play, boosted by Jacky Cheung’s concert series at Galaxy Arena.
From January to June 2025, Macau’s total GGR reached MOP118.77 billion, up 4.4% year-on-year. This equates to an average monthly GGR of MOP19.79 billion, surpassing the MOP19 billion pace needed to hit the government’s revised target of MOP228 billion. The original goal had been MOP240 billion, but weak early-year results prompted a downward revision. Chief Executive Ho Iat Seng had warned that monthly revenue falling below MOP15 billion could lead to a budget shortfall.
Visitor numbers also supported revenue, with May arrivals reaching 3.4 million, 99% of pre-pandemic levels. June figures are pending, but early signs indicate steady momentum. Jacky Cheung’s multi-night concerts from mid-June to early July drove higher foot traffic and premium play. Citigroup noted a 16% increase in premium player volume and a 36% rise in average bet size among high rollers during opening night.
June’s performance builds on May’s record-breaking results, which were fueled by the Labour Day Golden Week and the soft launch of Capella at Galaxy Macau, which is a factor that also spurred VIP activity.
As the market evolves, Macau is preparing to phase out satellite casinos operated by third parties under current concessions by the end of 2025, especially affecting venues in the ZAPE area. This move aligns with broader efforts to streamline regulations.
Citigroup forecasts a 6% year-on-year GGR increase for the second half of 2025, supported by upcoming holidays, high-profile events, and a near-full recovery in tourism. June’s strong numbers suggest the recent upward trend in GGR may be more sustainable than previously thought.
