Macau’s casino gross gaming revenue (GGR) for the first 18 days of May was estimated at MOP12.7 billion (US$1.59 billion), according to a Monday memo from banking institution Citigroup, citing industry sources.
“This implies a daily run rate of approximately MOP593 million during the week of May 12 to 18, 3 percent higher than that of the previous six-day period (May 6 to 11),” wrote analysts George Choi and Timothy Chau.
“This is largely consistent with seasonality after the Labour Day holidays in early May,” they added.
China’s State Council had designated this year’s Labour Day holidays on the mainland – Macau’s main feeder market – as May 1 to 5 inclusive. Some commentators refer to this holiday period as the ‘May Golden Week’.
May 1 and 5 were also public holidays in Hong Kong, Macau’s second most important source market for inbound visitors.
According to channel checks by JP Morgan Securities (Asia Pacific) Ltd, the daily run rate of Macau’s casino GGR for the period May 1 to 5 was estimated at MOP1.02 billion. Total GGR for the five-day period stood at MOP5.1 billion.
Citi stated in its Monday note that it was maintaining its May 2025 full-month GGR forecast at MOP21.0 billion, implying year-on-year growth of approximately 4 percent.
The institution noted that supporting its estimate was the fact that Macau has “a solid concert line-up for the rest of the month, including two more shows by Sammi Cheng (May 24 and 25), one by Show Lo (May 31), and the first of 10 shows by Leon Lai (May 31).”
The three artists are particularly famous among Chinese-speaking audiences. Citi has mentioned in previous notes the potential for high-profile concerts in Macau to help boost gaming business in the city’s casinos. The topic was also discussed at the Asian IR Summit earlier this month.
