Macau’s casino gross gaming revenue (GGR) performance during the first week of June was “solid”, though a high comparison base and the upcoming FIFA World Cup are likely to result in a “mild” year-on-year decline in GGR during both June and July, according to a note from banking institution UBS.
Macau’s daily average GGR was circa MOP700 million (US$86.7 million) during the first seven days of June, “flat” year-on-year, noted UBS, citing its own channel checks.
“Between the segments, mass daily revenue run-rate was down circa 3 percent to 5 percent month-on-month, while VIP volume daily run-rate was down circa 5 percent to 8 percent month-on-month, at VIP hold of circa 2.9 percent to 3.1 percent,” the banking institution stated.
The GGR run rate in the first week of June was down 4 percent from circa MOP729 million a day in May, “off a seasonal high base”. That is though still a smaller decline versus the historical performance in June during 2015 to 2019, when the GGR in June had usually been down circa 9 percent month-on-month, UBS noted.
Based on consensus expectations for a full-month daily run-rate of approximately MOP695 million, Macau’s casinos would need to generate about MOP694 million per day during the remaining 23 days of June. If realised, the MOP695-million tally for June would represent a decline of about 1 percent year-on-year, and be down 5 percent from May, per UBS.
“The upcoming [FIFA World Cup] football tournament (June 11 to July 19) and high base effect will likely lead to a mild year-on-year decline in GGR in June and July,” UBS suggested.
The tougher comparison base stems from Macau’s strong performance in the second half of last year. The city’s casino GGR recorded double-digit year-on-year growth in every month from June to December 2025, except September, when growth was 6.0 percent. The city’s casinos had suspended temporarily their operations for 33 hours in late September due to the passage of Super Typhoon Ragasa.
