Macau casino revenue climbs 19% to $2.73 billion in July, hits highest post-COVID level

Macau’s gross gaming revenue (GGR) jumped 19% in July from a year earlier to MOP 22.13 billion ($2.73 billion), marking the gambling hub’s strongest monthly performance since the pandemic and surpassing analyst expectations for a fourth consecutive month.

The result, released Friday by the Gaming Inspection and Coordination Bureau, beat the median forecast of a 13% rise and returned the market to 90% of its July 2019 levels - the highest since COVID-19 restrictions battered the industry.

The mid-month typhoon had little impact on gambling activity, with premium bettors increasing their spending by 32% year-on-year, according to a Citigroup survey. The cyclonic storm didn’t seem to affect gamblers’ appetite for betting, analyst George Choi said, as reported by Bloomberg.

The rebound has been driven by rising spending among high-stakes players and a push by casino operators to diversify entertainment offerings. Companies including Sands China, Galaxy Entertainment, and MGM China have added luxury hotel rooms and staged concerts and events to appeal to both premium and mass-market tourists.

Visitor arrivals reached 2.9 million in June, or 93% of 2019 levels, further underlining the sector’s recovery momentum.

For the first seven months of 2025, cumulative GGR stood at MOP 140.9 billion ($17.43 billion), a 6.5% increase from a year earlier. That figure accounts for 61.8% of the government’s full-year target of MOP 228 billion and amounts to 81% of pre-pandemic performance over the same period in 2019.

Still, analysts warn that macroeconomic headwinds may cloud the second half of the year. Many VIP gamblers are exposed to China’s real estate and trade sectors, both of which are facing pressure from the country’s broader economic slowdown and international trade tensions.

Market sentiment has remained buoyant. The Bloomberg Intelligence index tracking Macau casino operators surged 21% in July, significantly outperforming the Hang Seng Index, which rose around 3% during the same period.