Published on: March 2, 2026, 09:24h.
Updated on: March 2, 2026, 09:24h.
- Macau casinos generated $2.55 billion in February
- The resorts saw record visitor turnout during the Lunar New Year celebrations
February proved to be another lucrative month for casinos in Macau.
Macau experienced a significant boost as the Chinese New Year fully occurred in February. The nine-day holiday spanned from February 15-23, granting most employees in mainland China paid leave, unlike the fragmented holiday in 2025.
According to the Macau Gaming Inspection and Coordination Bureau, gross gaming revenue (GGR) in February reached MOP20.62 billion (approximately US$2.55 billion), reflecting a 4.5% increase year-over-year.
The February revenue of $2.55 billion from the six operational casino concessionaires exceeded the expected 1% GGR growth. Initial reports suggested a slow start to the holiday, but a surge in travel toward the end of the week led to daily casino revenues exceeding $150 million.
For the first two months of the year, prominent operators such as Sands, Galaxy, Wynn, MGM, Melco, and SJM reported earnings of $5.36 billion, representing a nearly 14% increase compared to January-February of 2025.
New Year, New Market Dynamics
The Macau Government Tourism Office indicated that around 1.55 million individuals visited Macau during the Lunar New Year. As one of only two Special Administrative Regions under China, both Macau and Hong Kong serve as prime destinations for Lunar New Year celebrations.
The 1.55 million visitors recorded at Macau’s border checkpoints is the highest since the MGTO began tracking holiday traffic in 2006. The previous year marked the second consecutive year of Macau’s recovery from the pandemic, with GGR climbing 9.1% from 2024 and 35% from 2023.
Macau’s gaming scene has successfully transitioned from a high-roller focus to targeting premium and mass markets. This shift was necessitated by the government’s 2022 licensing overhaul, which mandated a crackdown on VIP junket operations by Beijing.
Regardless of the influx of 300,000 additional visitors during the 2026 Lunar New Year compared to 2025 and the entire holiday occurring in February, GGR growth was limited to 4.5%. Analysts suggest that Macau casinos most reliant on premium mass and non-gaming attractions likely saw the most significant gains from the New Year traffic.
The projected GGR for March anticipates approximately 13% growth year-over-year, estimating MOP22.2 billion (US$2.75 billion).
Concerns from the Middle East
Tourism and gaming revenue in March may face challenges due to tensions in the Middle East following the recent US and Israeli strikes on Iran over the weekend. Economists suggest that China could be one of the countries most negatively affected by such actions, potentially impacting the leisure spending and travel capabilities of mainlanders.
“In a global economy already struggling with the repercussions of tariffs and growing uncertainty surrounding the effects of Artificial Intelligence on labor markets, the rising tensions in the Middle East contribute an additional layer of unpredictability,” noted TD Securities.
“Disruption to Iranian oil exports could heavily affect Chinese refiners, as they are estimated to import around 99% of Iran’s exports, which constitute approximately 13% of China’s seaborne crude imports in 2025,” the analysis adds.