In April, Macau’s gross gaming and casino revenue totaled MOP18.81 billion (US$2.35 billion), up 1.7 percent from a year earlier, according to the Gaming Inspection and Coordination Bureau. The improvement surprised analysts who had expected a 1.25 percent year-on-year decline.
The momentum projects a good start to Golden Week, the five-day Chinese holiday that began on May 1.
Historically, according to data cited by Macau Business, Macau casinos tend to record higher revenues in May, August and October. During these months, millions of tourists flock to the region, the only place in China where gambling is legal.
The rise in Gross Gaming Revenue (GGR) has been linked to an improvement in the Chinese economy. Analyst Vitaly Umansky of Seaport Research Partners argues that consumer confidence, especially among the upper middle class, is “key to driving upward growth in Macau”.
“The presence of US tariffs remains a heavy drag on the balance and parts of China’s economy remain weak (i.e. consumer spending, housing),” Umansky continued.
But the central government’s stimulus measures should “improve economic activity and consumer confidence in 2025.”
The U.S.-China trade war could also prompt Beijing to “more firmly implement measures that boost consumption,” he noted. “Such policy initiatives should have a positive effect on Macao’s revenue.”
Golden Week is an important parameter for Macau casinos
Year-to-date, Macau’s casinos generated MOP76.51 billion, up 0.8 percent from the same period in 2024. But the monthly average of MOP19.12 billion is still short of the MOP20 billion needed to reach the annual target of MOP240 billion.
The Macau Government Tourism Office expects 127,000 to 140,000 daily visitors for the Golden Week holiday, which Bloomberg called “the next key data point.” Casinos and the local government are ramping up after-hours entertainment in a bid for more overnight stays.
