In October 2025, Macau’s gaming revenue grew to an unprecedented level, amounting to MOP24.09 billion or US$3 billion. It is the best monthly performance since the pandemic began and is 15.9 percent higher than October 2024. The result in October now topped the previous best monthly GGR, MOP22.16 billion ($2.77 billion), set only two months ago in August.
Golden Week Celebrations with Strong Demands
The strong results from October highlight the visitors’ strong demand during this year’s Golden Week celebration period. Even as Typhoon Matmo affected the region with its disruptive effects, tourists still visited Macau. And during the eight-day Golden Week period from October 1 to 8, the number of visitor arrivals received by Macau was over 1.14 million, averaging about 143,000 visitors per day. The gaming revenues also rose to record levels due to a huge rush of players and tourists.
Non-Gaming Attractions Boost Visitation
The operators attribute part of the success to their continued focus on non-gaming initiatives that are targeted at enhancing the visitor experience. These have been successful in luring different tourist segments and have provided a far more dynamic entertainment environment away from the casino floors.
YTD Growth with Room for Recovery
Accumulated gross gaming revenue in Macau in the first ten months of 2025 reached MOP205.43 billion (US$25.64 billion), up 8 percent in year-on-year terms. The result is 16.7 percent less than in the corresponding period of 2019, when GGR accounted for MOP246.74 billion (US$30.8 billion), and attests to the fact that full recovery is not yet complete.
Optimism for Q4 and Festive Season
Operators and market participants had become increasingly convinced that a strong October would spill over into further GGR growth in the fourth quarter, particularly in the festive month of December, when visitor numbers and expenditure are expected to rise on the back of non-gaming entertainment and holiday travel.
A Transforming Landscape
Macau’s recent resurgence has demonstrated how the market can successfully transition into a more sustainable, tourism-oriented model with mass-market gaming at its core, supplemented by other entertainment options, rather than relying on high rollers and junket operators. Record results in October illustrate the resilience of the city and its position as one of the world’s premier gaming hubs. They also suggest that integrated resorts are becoming the key players in the leisure market today. Operators are also committed to capitalizing on momentum through innovation and new facilities that would appeal to both casual visitors and the premium segment, while Macau has yet to attain full recovery. This sets a positive tone for the year-end period, since easing travel restrictions and changing consumer preferences create ideal conditions for further growth and broader recovery across the industry.
Source: Asia Gaming Brief (AGB)
