Macau goes into Golden Week on a positive note

Macau’s Gaming Industry Sees Subtle Growth Ahead of Golden Week

In April, Macau’s gross gaming revenue (GGR) reached MOP 18.81 billion (approximately $2.35 billion), reflecting a modest year-over-year increase of 1.7%, as reported by the Gaming Inspection and Coordination Bureau. This unexpected uptick defied analysts’ predictions, which anticipated a 1.25% decline.

This positive trend sets a promising tone as we approach Golden Week, the five-day national holiday commencing on May 1. Historically, this period marks one of the peak times for revenue generation in the region.

Data from Macau Business illustrates that May, along with August and October, consistently emerges as a high-revenue month for Macau casinos. During these times, millions of mainland tourists flock to the special administrative region, the only location in China where casino gambling is permitted.

Economic Stimulus Fuels Growth in Macau’s GGR

Recent improvements in GGR are mainly attributed to the recovering Chinese economy. Analyst Vitaly Umansky from Seaport Research Partners identifies the resurgence of consumer confidence, particularly among the upper-middle class, as a critical driver of growth in Macau’s gaming sector.

Umansky notes, “While the escalation of U.S. tariffs continues to create challenges and segments of the Chinese economy, such as real estate and consumer spending, remain under pressure, recent stimulus measures from the central government are projected to enhance economic activity and bolster consumer confidence by 2025.”

Furthermore, the U.S.-China trade dynamics may compel the Chinese government to implement more aggressive fiscal and monetary policies, positively impacting consumption levels. Such initiatives are expected to provide a favorable environment for Macau’s gaming revenues.

Golden Week: A Crucial Barometer for Future Performance

To date, Macau casinos have accumulated MOP 76.51 billion in revenue, marking a 0.8% increase compared to the same period in 2024. However, the average monthly revenue of MOP 19.12 billion still falls short of the MOP 20 billion threshold required to achieve the annual target of MOP 240 billion.

During Golden Week, the Macau Government Tourism Office anticipates daily visitor numbers ranging from 127,000 to 140,000, as highlighted by Bloomberg. This influx serves as a vital indicator for the local gaming sector. In anticipation, casinos and local authorities are enhancing after-hours entertainment options to encourage longer stays and drive revenue.