Published on: January 1, 2026, at 08:39h.
Updated on: January 1, 2026, at 08:40h.
- Macau casinos achieved $30.9 billion in revenue for 2025
- This figure marks the highest annual total since 2019
- Positive growth for Macau is anticipated in 2026
In 2025, Macau retained its status as the global gambling hub, with casinos generating gross gaming revenue (GGR) of MOP247.4 billion (approximately US$30.84 billion), more than twice the earnings of Las Vegas.
Gross gaming revenue signifies the total income retained by casinos after paying winnings. The six operators in this Chinese region enjoyed a 9.1% rise in GGR for 2025 compared to 2024, an increase of around $2.5 billion.
December’s casino winnings rose by 14.8% year-over-year, reaching $2.6 billion, marking the market’s sixth-strongest GGR month of 2025.
Starting the year on a low note with a 5.6% drop in January GGR, the following months showcased continuous growth, especially October, which surpassed $3 billion—a peak unseen since before the pandemic in 2019.
Macau’s Resurgence
In 2025, Macau exceeded expectations. Analysts had concerns regarding the region’s ability to adapt following the significant reduction of VIP clientele after Beijing’s crackdown on the junket sector that typically brought high-stakes gamblers to the city.
Compounding the situation for Sands, Galaxy, MGM, Wynn, Melco, and SJM, was Macau’s requirement for operators to invest billions into non-gaming ventures as part of their 10-year license renewals. This move demonstrated Macau’s intent to diversify its economy beyond its dependence on casino gaming.
Similar to Las Vegas decades ago, Macau aims to become a more family-friendly destination, appealing to leisure tourists, business travelers, and conventions. The year’s total surpassed analysts’ predictions of $30 billion, with the impressive $30.8 billion reflecting 84.7% of the market’s GGR pre-pandemic in 2019 and showcasing the best results in the aftermath of COVID-19.
The casinos have successfully transitioned from VIP-focused clientele to catering to premium mass and regular market players, who still wager significant amounts on baccarat.
While there was a desire to maintain junket relationships, a silver lining has emerged: lower-stakes players tend to generate higher profits off the casino floor as lavish incentives are less frequently available. Nevertheless, attracting a larger number of premium and mass market customers remains essential to compensate for the decline in VIP gaming revenue.
Forecast for 2026
The positive trend in Macau is expected to extend into 2026, bolstered by China’s economic recovery and a willingness among mainlanders to travel, as the pandemic has receded in importance for many.
“Macau continues to be a story of sustained growth, driven by rising wealth in China, high propensity to gamble, and increased travel spending,” said Vitaly Umansky, Global Gaming Senior Analyst at Seaport Research Partners.
“We see Macau as a long-term growth opportunity,” Umansky noted.