Macau casinos report October GGR of MOP21.68bn, down 10% year on year
Regulation2 min read
In brief
Macau's casinos recorded gross gaming revenue of MOP21,680 million in October, 10.0% below the MOP24,086 million reported in October 2025, according to the monthly table published on Sunday by the Gaming Inspection and Coordination Bureau (DICJ). The month was about MOP2.4 billion short of last year's level, and in US dollar terms October's takings came to around $2.7 billion.
October revenue was 20.0% higher than September's MOP18,063 million. Cumulative GGR for January to October reached MOP208,796 million, up 1.6% on the MOP205,427 million recorded in the first 10 months of 2025.
Macau's October GGR marked a fifth straight month of annual decline. The DICJ table records a 24.0% jump in January, with the first five months of 2026 all posting growth, before the run turned: June fell 12.1%, July 8.4%, August and September each 1.2%, and October 10.0%. Among the ten months reported for 2026, June's drop remains the steepest.
A high year-earlier base contributed to the decline, since October 2025 stood at just over MOP24 billion and was the strongest month of last year up to that point. The drop occurred even though the Golden Week break, usually among the busiest stretches for mainland visitors, fell in the month, as GGRAsia noted. AsGam also cited the NBA China Games at The Venetian Macao early in October among the events behind the month-on-month improvement.
Analysts had expected more. CLSA's early-October call was for MOP24.1 billion, flat on the year, and it reported market forecasts spanning a 3.5% decline to 4% growth; the actual figure landed outside that span. A CICC note dated October 17, saw “no clear near-term inflection point” for Macau GGR or for sector profitability.
The year-to-date lead has been narrowing steadily since the spring, a point when growth for the year was above 10%. The weaker second half comes after a soft third quarter, when casino GGR dropped 3.8% year on year over July to September and mass baccarat declined 7.9%.
The 2026 budget rests on MOP236 billion in full-year GGR. To get there, the DICJ cumulative figure implies the city's casinos must collect MOP27.2 billion combined in November and December. Sam Hou Fai, the Chief Executive, remarked on October 10 that how October turned out would probably be decisive for whether the goal is reached.