Macau gaming revenue rises 6.7% in May on holiday demand surge

Macau's gross gaming revenue (GGR) rose 6.7% from a year earlier in May, supported by strong visitor arrivals during China's Labour Day holiday period, official data showed on Monday.

Revenue from Macau's casinos reached MOP22.6 billion ($2.80 billion) in May, according to data from the Gaming Inspection and Coordination Bureau. The figure was also up 13.6% from April's MOP$19.9 billion ($2.47 billion).

For the first five months of 2026, Macau's GGR totaled MOP$108.4 billion ($13.4 billion), an increase of 10.9% from the same period a year earlier.

The world's largest gambling hub benefited from a surge in tourism during the five-day Labour Day holiday that began on May 1. Macau welcomed about 873,000 visitors during the holiday period, averaging nearly 174,600 arrivals per day.

The strong May performance was broadly in line with analyst expectations, which had forecasted higher holiday-related demand and continued momentum in the mass-market gaming segment.

The latest figures add to signs of a steady recovery in Macau's gaming sector, which generated MOP 65.87 billion ($8.17 billion) in gross gaming revenue during the first quarter, up 14.3% year-on-year.

Analysts remain broadly positive on the market's outlook for 2026, although they have cautioned that growth comparisons will become more challenging in the coming months as Macau laps stronger post-pandemic recovery figures.

CBRE Equity Research forecasts Macau's gaming revenue will increase 8.3% this year, following total GGR of MOP247.4 billion ($30.68 billion) in 2025.

S&P Global Ratings has projected 2026 GGR growth of between 3% and 7%, citing expectations for continued premium mass-market demand, rising visitor arrivals and steady earnings growth among casino operators.

Macau's gaming tax revenue reached MOP34.87 billion ($4.32 billion) in the first four months of 2026, up 16.8% from a year earlier. The government has set a full-year gaming tax revenue target of MOP92.7 billion ($11.56 billion) for 2026.

According to Macau’s Statistics and Census Service (DSEC), the city recorded approximately 3.4 million visitor arrivals in April, an increase of 11.3% compared with the same month last year. Mainland China remained the city's largest source market.