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Read Full BioMacao casinos reached their highest revenue figures since January 2020 in August, posting gross gaming revenue (GGR) of $2.76 billion. As a result, Hong Kong investment bank Jefferies raised its expectation for the year to MOP248 billion ($31.8 billion).
August’s GGR took the total this year to MOP163.05 billion ($20 billion), 7.2 percent higher than in 2024. This has led to the revised prediction, which is up from previous expectations of MOP237 billion ($29.5 billion).
Previously, the region saw revenue figures reach new highs of $2.6 billion in June and $2.62 billion in May.
Rich Entertainment and New Properties Driving Growth
The performance has been boosted by “rich entertainment events” and “new properties” recently available in the Macau market.
This year, the Capella hotel opened at the Galaxy Macau casino resort, and renovation works at The Londoner Macao were completed. Galaxy signed a deal with the UFC this week to host events from 2026 to 2029. It will kick off with the opening round of UFC’s “Road to UFC” tournament in 2026.
Additionally, recent concert performances by Hong Kong pop star Jacky Cheung and the K-pop star G-Dragon have helped increase tourism in the region.
A new Netflix movie starring Colin Farrell, set in Macau, is also due to be released next month. Ballad of a Small Player could further attract visitors to drive growth in the region. Director Edward Berger said he wants to showcase the ‘true Macao’ to audiences.
Tourism Recovers to Pre-Pandemic Levels
Tourism numbers took time to recover following the COVID-19 pandemic, but are now surpassing those numbers. In the first seven months of the year, there have been over 22 million visitors to the area, up 14.9% from last year. The total this year should easily pass the 34.93 million visitors in 2024, which fell short of the 39.4 million in 2019.
According to Jefferies analysts Anne Ling and Jingjue Pei, many of these tourists are also high spenders. New wealth in China has been fueled by positive performances in real estate, stock, and cryptocurrency markets.
The analysts added: “We expect these drivers will continue to fuel GGR growth for the rest of the year.”
Sands China to Increase Market Share, Stocks Rise From April
In a memo released on Thursday, Ling and Pei forecast that Galaxy and Sands China would be the top performers throughout the rest of the year. They wrote: “We assume Galaxy Entertainment Group Ltd and Sands China Ltd will increase market share in 2025/2026, with stable market share for MGM China Holdings Ltd and Wynn Macau Ltd, and a decline for SJM Holdings Ltd.”
Sands China’s stock has increased from HKD 12.82 in April to a current HKD 19.71. MGM China has similarly increased from just above HKD 9 in April to HKD 15.83. Stocks have seen a slight drop from last week, however, with investors possibly expecting even better figures as the recovery continues.
A lacklustre performance in the opening few months led to a drop in stocks as well as the government’s forecast. The government had initially predicted casinos would reach MOP240 billion for the year, but revised this down in June to MOP228 billion. A recent upturn should meet the initial expectations, at least.
