Macau’s gaming regulator, the Gaming Inspection and Coordination Bureau (DICJ), reported industry-wide gross gaming revenue of MOP$21.09 billion (US$2.63 billion) in November, representing a 14.4% increase compared to the same month last year.
The figure was 12.4% lower than October’s post-pandemic high of MOP$24.09 billion (US$3.01 billion) although this was expected given historical trends. November is typically the slowest month of the fourth quarter because it lacks any major Chinese or regional holidays and is squeezed between October’s Golden Week and December’s Christmas period.
For the first 11 months of 2025 combined, GGR climbed to MOP$226.5 billion (US$28.2 billion) – up 8.6% compared to the same period last year.
Analysts previously stated that Macau’s GGR had started strong in early November before moderating through the middle of the month as major sporting events like the National Games and the Macau Grand Prix rolled into town.
Most have, however, maintained a positive view for the remainder of 2025 and into 2026 given the strength of the market since May, enduring premium mass demand and signs that the base mass segment might be gaining some traction.
