Macau’s Gaming Inspection and Coordination Bureau (DICJ) has reported a 19 percent year-on-year rise in total gross gaming revenue (GGR) for June 2025. For the month, GGR totaled MOP21.06 billion ($2.60 billion), continuing the city’s recent growth spurt.
GGR only slightly lower than May
The GGR recorded in June was only slightly lower than May, when it totaled MOP21.19 billion, reaching a post-pandemic high. Cumulatively, for the first half of this year, Macau’s GGR totaled MOP$118.8 billion. This marked a 4.4 percent increase year-on-year. Following a slow start to the year, Macau’s gaming revenues have picked up in recent months, rising on the back of strong May Day Golden Week holiday and impressive tailwind in the weeks after that.
The strong momentum continued into June, with investment bank Citi noting that the return of superstar performers like Jacky Cheung boosted foot traffic and helped the growth. Cheung is currently in the middle of a nine-show stretch at Galaxy Arena. They noted it won’t be surprising to see Macau generating more GGR than previously forecasted owing to the singer’s shows boosting traffic.
Performing beyond expectations
Despite entering what is usually a quieter season, recent reports had revealed that Macau’s gaming revenue for June was performing well beyond expectations, defying historical trends. According to industry reports cited by Macao Daily, Macau’s gaming industry recorded MOP 10 billion in GGR in the first 15 days of June. Between June 9 and 15, Citigroup analysts reported that average daily revenue rose by 5 percent to MOP 686 million. The increase comes on the back of strong VIP performance, with win rates exceeding both seasonal averages and the earlier part of the month. Analysts have revised GGR forecast for June from MOP 18.5 billion to MOP 19 billion, representing about 80 percent of June 2019’s pre-pandemic levels.
Another note from Citigroup forecasted that Macau’s GGR will grow by 6 percent in the second half of 2025, resulting in a 4 percent year-on-year increase for the full year to reach about MOP235.7 billion. Analysts George Choi and Timothy Chau noted that Macau’s gaming market is “reaching an inflection point for good” and that they “remain bullish” on the city’s gaming sector. “The consecutive GGR beats in April and May, plus the strong start to the month of June, likely indicate that Macau is reaching an inflection point for good,” they wrote in the memo.”
