Macau’s on line casino trade is driving a wave of momentum, with gross gaming income (GGR) for the week of August 18–24 reaching MOP$793 million (US$98.3 million) per day, in line with analysts at JP Morgan. This marks a 9% rise from the earlier week’s each day common of MOP$710 million and represents the town’s highest non-Golden Week each day GGR because the pandemic.
Macau Gaming Income Hits New Highs
In keeping with Inside Asian Gaming, analysts DS Kim, Selina Li, and Lindsey Qian attributed the spike to elevated vacationer site visitors through the peak summer time journey season. This inflow of holiday makers pushed month-to-date GGR for the primary 24 days of August to MOP$17.65 billion (US$2.18 billion), averaging MOP$735 million (US$91.1 million) per day.
With these figures, JP Morgan has raised its projection for August’s GGR, now anticipating a year-on-year progress of between 11% and 14%, translating to MOP$21.9 billion to MOP$22.5 billion (US$2.72 billion to US$2.79 billion). The brand new estimate means that August will probably surpass the present post-pandemic report of MOP$22.13 billion set in July.
Breaking down the efficiency by phase, each the VIP and mass markets skilled year-on-year progress between 10% and 15% through the first three weeks of August. This interprets to the VIP phase recovering to roughly 30% of pre-pandemic efficiency, whereas the mass market has soared to round 125% of its pre-2020 ranges.
JP Morgan famous that this balanced progress is a optimistic indicator for the trade’s general restoration trajectory. The financial institution additionally anticipates sustained double-digit GGR progress via a minimum of the primary quarter of 2026. Analysts highlighted that, “coupled with Avenue upgrades, [this] ought to appeal to long-only buyers, supporting valuations to develop from the present circa 9 occasions enterprise worth/EBITDA.”
Regardless of the optimistic momentum, Macau’s Hong Kong-listed gaming shares have but to absolutely replicate this progress. Nonetheless, analysts anticipate that constant earnings visibility and broader investor curiosity will probably result in a re-rating of those shares within the close to time period, even with no important exterior catalyst.
July Tax Income and Yr-to-Date Efficiency
Including to the town’s robust efficiency, Macau’s Monetary Companies Bureau reported that gaming tax income in July reached roughly MOP$8.11 billion (US$1.01 billion). This determine is in step with June’s MOP$8.16 billion (US$1.02 billion) and corresponds to June’s GGR of MOP$21.1 billion (US$2.60 billion), which represented a 19% year-on-year improve.
For the primary seven months of 2025, gaming taxes totaled MOP$53.4 billion (US$6.64 billion), reflecting a 3.4% rise in comparison with the identical interval in 2024. Throughout this timeframe, gaming taxes accounted for a formidable 86.3% of Macau’s whole authorities income of MOP$63.3 billion (US$7.87 billion).
With the federal government concentrating on MOP$93.1 billion (US$11.6 billion) in gaming tax income for FY25, the present figures present that 60.3% of the annual goal has already been achieved by the tip of July. These numbers additional underline the trade’s resilience and its central function in Macau’s financial restoration.
