Macau’s casino sector achieved a post-pandemic milestone in July 2025, with gross gaming revenue (GGR) surging 19% year-on-year to MOP22.13 billion (US$2.73 billion). This is the highest monthly total since January 2020. The Gaming Inspection and Coordination Bureau reported a 5% month-on-month increase from June’s MOP21.06 billion, defying seasonal expectations as Q3 is traditionally a slower period for the industry.\n\nJuly’s performance surpassed May’s 2025 previous post-COVID peak of MOP21.19 billion, signaling sustained recovery momentum ahead of October’s Golden Week holiday peak.\n\nMacau’s gaming sector maintained its upward trajectory through July 2025, with cumulative GGR for the first seven months reaching MOP140.9 billion (US$17.44 billion), marking a 6.5% YoY increase. The total now stands at 61.8% of the government’s annual MOP228 billion target.\n\nWhile this reflects steady progress, it is still 12.2% below pre-pandemic levels in 2019 (MOP174 billion), indicating the industry still has some ground to cover before full recovery. Notably, May to July marked the first three-month streak since 2019 with monthly GGR exceeding MOP20 billion, reversing an early-year slump when January’s revenue dipped 6%. The six consecutive months of growth signal strengthening demand as post-pandemic challenges continue to fade.\n\nMacau’s 2025 revenue resurgence post-pandemic is coupled with rising visitor numbers nearing pre-COVID levels. By June, the SAR recorded 19.2 million tourists, 95% of 2019’s H1 traffic and 114% above 2018 figures.\n\nThe region has faced high-roller junket networks, redirecting focus to premium-mass players and family-oriented tourism through investments in non-gaming amenities. While gaming revenue remains below 2019 levels, it aligns with Beijing’s diversification mandates.\n\nSix casino operators have adjusted services to attract broader demographics, ensuring table game accessibility alongside luxury retail and entertainment. This evolution steers away from Macau’s former VIP-centric model.\n\nMacau’s gaming recovery shows no signs of slowing, and Citigroup projects 6% H2 GGR growth driven by premium gaming offerings, event-led tourism, and stabilizing regional economies. CBRE analysts highlight July’s record performance as evidence of resilience, crediting its acceleration to enhanced non-gaming investments and revived high-roller appeal.\n\nWhile year-to-date revenue is below 2019 levels by 19%, analysts have high hopes considering H1’s performance. However, they caution that footfall growth lags behind revenue gains, calling for volume-driven recovery before October’s Golden Week.

Macau casinos reach new gaming revenue peak post-COVID in July 2025

Macau’s casino sector achieved a 19% year-on-year increase in July 2025, reaching a post-pandemic revenue peak of MOP22.13 billion (US$2.73 billion), the highest monthly total since January 2020. The sector maintained growth through July 2025, with cumulative GGR reaching MOP140.9 billion (US$17.44 billion), 6.5% higher than 2024 and 12.2% below 2019 levels. Visitor numbers neared pre-COVID levels, and industry adjustments focused on diversifying offerings beyond high-roller gaming.