Macau Jan.-July casino revenue MOP140.90B

Macau Jan.-July casino revenue MOP140.90B

Macau's casino industry has seen a significant surge in revenue from January to July 2025, with a total gross gaming revenue (GGR) of MOP140.90 billion. This impressive performance is largely attributed to increased tourism, a rise in VIP play, and the city's strategic efforts to attract more visitors.

According to data from the Macau Government Tourism Office, 19.22 million visitors visited the gaming mecca through June of this year, an increase of 14.9% compared to the same period in 2024. This growth in tourism has been a key driver of the casino revenue surge. The city has made it easier for visitors by implementing relaxed visa policies and improving transportation options, which have contributed to the increase in both domestic and international tourists. For instance, last year, more than 2.4 million visitors from outside Asia came to Macau, an increase of 66% year-on-year [1].

The casino industry has also benefited from the increased non-gaming attractions in the city, such as sports, entertainment, and cultural events. A notable example is the Galaxy Macau residency starring Hong Kong crooner Jackie Cheung, which led to a 16% increase in premium players and a 36% increase in the average wager on its opening night [1].

VIP gaming revenue for the first half of 2025 rose 11% year-over-year, while mass market gaming revenue increased by just 2%. This indicates that high rollers have been a significant contributor to the casino revenue growth. However, mass players still make up the majority of the total gaming revenue, with mass players accounting for 74% of the half-year total [1].

Melco Resorts & Entertainment Limited, one of the major casino operators in Macau, has also reported strong performance. The company's Macau property EBITDA grew by 35% year-over-year and 13% quarter-over-quarter, driven by increased gaming volumes and cost optimization. The House of Dancing Water, a popular attraction at City of Dreams, has also contributed to the company's success by attracting 40,000 visitors daily and contributing to increased non-gaming revenue [2].

Despite the strong performance, spend per visitor for the period is down. On a per-capita basis, each visitor spent an estimated MOP6,180 in the first six months, a drop of 9% from last year. This decline is attributed to the city's diversification into more non-gaming offerings, which has attracted more leisure visitors over gamblers [1].

In conclusion, the casino industry in Macau has shown remarkable growth in the first half of 2025, driven by increased tourism, a rise in VIP play, and strategic efforts to attract more visitors. However, the city's focus on non-gaming attractions and the diversification of its offerings may continue to influence the spend per visitor in the coming months.

References:
[1] https://igamingbusiness.com/casino/macau-casino-stocks-rally-gaming-revenue-grows/
[2] https://www.ainvest.com/news/melco-resorts-2025-q2-earnings-call-unpacking-key-contradictions-strategy-performance-2508/