Macau Gross Gaming Revenue Surges to 2025 High
Macau’s casinos posted gross gaming revenue (GGR) of MOP247.4 billion (US$30.84 billion) in 2025, the highest annual total since 2019 and a 9.1% increase from 2024.
Image: Infograph detailing Macau’s GGR statistics
Key Takeaways:
- Macau’s 2025 gross gaming revenue reaches MOP247.4 billion, the highest since 2019
- Despite a slow start, December and October shows strong monthly growth
- Industry shifts towards premium-mass segments boost recovery amid regulatory changes
Gross Gaming Revenue Gains Pace as Late-Year Momentum Builds
The six concessionaires, Sands, Galaxy, MGM, Wynn, Melco and SJM, delivered the gain despite a weak January and the post-junket market structure imposed after Beijing’s crackdown.
December’s win rose 14.8% year-over-year to MOP20.88 billion (US$2.6 billion), and October produced the year’s strongest single month when GGR topped MOP24 billion, the richest since pre-pandemic 2019.
Mass-Market Focus Fuels Recovery in Post-Junket Era
The recovery reflects a sustained pivot from VIP junkets to premium-mass and mass segments that wager still-substantial amounts per baccarat hand, while benefiting from lower comp costs and broader non-gaming investments required under 10-year license terms.
2025 gross gaming revenue reached roughly 84.7% of 2019 levels, underscoring significant progress but still short of the 2013 record.
Looking ahead, Seaport Research Partners Global Gaming Senior Analyst Vitaly Umansky said to Casino.org, “Macau remains a secular growth story, driven by an increasing wealth effect in China with high propensity to gamble and increasing travel spend.”
