Casinos in Macau recorded a gross gaming revenue of MOP 20.627 billion ($2.57 billion) in February 2026, a 4.5 percent increase from the same period last year, data released by the Gaming Inspection and Coordination Bureau (DICJ) showed.
The result extends an encouraging start to the year for the territory’s gaming sector. Combined with January’s performance, cumulative GGR for the first two months of 2026 reached MOP 43.261 billion ($5.39 billion), up 13.9 percent against the equivalent period in 2025, when operators reported a combined MOP 38 billion ($4.74 billion).
Chinese New Year drives visitation
The February numbers were significantly impacted by the Chinese New Year holiday, which took place from 15th to 23rd February. The Macao Government Tourism Office (MGTO) announced that the property welcomed over 1.7 million visitors during the period, with hotels reporting sold-out conditions over the peak dates.
The visitation numbers were a welcome change after a slower start to the month. Daily GGR was averaging around MOP 625 million ($77.9 million) at the beginning of February, leading into the holiday period, before the visitation numbers kicked into high gear. It’s a familiar trend for Macau properties to see visitation slow leading into the Chinese New Year holiday, followed by a strong bounce after the holiday.
Sequential trend reflects operational norms
The pre-holiday dip and then the recovery are significant for those benchmarking short-cycle performance. Floor utilisation, staffing, and expenditure for hotels, food and beverage, and retail all have the same shape as the inbound curve. When visitor arrivals spike within a compressed window, the pressure on operational capacity is immediate, which helps explain why hotel occupancy moves in close step with GGR during festival periods.
For suppliers and service providers working within the Macau ecosystem, the CNY numbers provide an early read on demand conditions for 2026. The 13.9 percent year-on-year gain in cumulative revenue through February indicates that the momentum seen in January was not eroded by any softness earlier in the month.
Regulatory framework unchanged
No new concessions or licensing changes took effect during February. The DICJ continues to monitor all aspects of casino operations within the territory as is currently the case, with the six licensees operating on the basis of concessions received as a result of the retender process initiated in 2022. The requirement to report revenues on a monthly basis continues to apply, with DICJ reporting headline GGR figures publicly.
The stability of the regulatory environment is relevant context for operators and investors monitoring sector performance. February’s result emerged without any structural change to the operating framework, meaning the revenue movement reflects demand conditions rather than any shift in the competitive or licensing landscape.
Early-year performance
Macau casino revenues continue to recover from the pandemic-related travel restrictions that affected visitation throughout 2022 and the first part of 2023. Revenues vary significantly from month to month, but the highest revenues are consistently recorded during the Golden Week periods and Chinese New Year weeks.
The base for February 2025 was a Chinese New Year period, so the 4.5 percent growth rate was a real growth rate rather than a function of a low base. Revenues growing at a rate greater than zero, even with a Chinese New Year base, indicate real growth rather than a function of base favorability.
The combined January-Feburary period of MOP 43.261 billion ($5.39 billion) provides a better base for operators and analysts to evaluate the current period. At this rate, the industry is growing at a rate significantly greater than the opening period of 2025.
Sector stable heading into March
With February’s data now confirmed, attention turns to whether March can sustain the trajectory without the CNY tailwind. The first quarter will close without another major mainland holiday of comparable scale, making underlying visitation and mass-market spend the primary variables for the months ahead.
For now, the DICJ figures confirm that Macau’s gaming sector entered 2026 in positive form, supported by strong festival-period demand and continued recovery in visitor volumes across what remains one of the world’s largest regulated casino markets.
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