Casino gross gaming revenue (GGR) in Macau for the first seven days of September stood at MOP4.45 billion (US$554.4 million), representing a daily average of MOP635 million, suggested brokerage JP Morgan, citing industry checks.
“As well expected, this is softer than the July and August run-rates – MOP714 million per day – due to seasonality,” wrote analysts DS Kim, Selina Li and Lindsey Qian, noting that September has historically been among the weakest months of the year in Macau in terms of GGR performance.
“But the print still suggests double-digit growth from last September’s MOP575 million per day, indicating the sequential slowdown is within normal seasonality,” the JP Morgan team added.
The brokerage continues to forecast that Macau’s GGR in September will grow between 10 percent and 13 percent year-on-year, to between MOP19.0 billion and MOP19.5 billion.
If realised, such growth would drive third-quarter 2025 GGR to “the highest level in 23 quarters”, up between 14 percent and 15 percent year-on-year, to about MOP63 billion and MOP64 billion, the analysts wrote.
August’s casino GGR in Macau rose by 12.2 percent year-on-year, reaching nearly MOP22.16 billion, according to data released at the start of last week by the city’s Gaming Inspection and Coordination Bureau.
Casino GGR in August marked the best monthly performance since January 2020, just before the onset of the Covid-19 pandemic. The latest monthly tally was slightly up compared with July’s MOP22.13 billion.
