Macau recorded gross gaming revenues of MOP$18.25 billion (US$2.27 billion) in January, representing a 5.6% decline compared with the same period last year but slightly higher than December, according to information from the Gaming Inspection and Coordination Bureau.
However, the slower start to 2025 was not unexpected with analysts having predicted a moderate March quarter due to tough comparisons, with 1Q24 having benefited from higher VIP volumes and hold rates.
Longer term, consensus has Macau’s GGR growing by around 8% year-on-year, outperforming the government’s 2025 forecast of MOP$240 billion (US$29.9 billion).
In a recent note, Seaport Research Partners said Macau would likely benefit this year from increasingly positive China sentiment towards Macau, the impact of improved visa policies and the strengthening of China’s economy.
