Concerts and Holidays Help Sustain Gaming Activity Ahead of Expected Slowdown
Macau’s gaming industry has reported a gross gaming revenue (GGR) of MOP 5.2 billion (US$646 million) in the first eight days of June 2025, according to figures cited by Macao Daily. While the daily average of MOP 650 million marks a 5% drop from May’s MOP 684 million, industry analysts view the performance as notably resilient given the off-peak travel season.
Off-Season, On Track
June is typically one of the slower months for Macau’s casinos, but this year’s early performance defied expectations, buoyed in part by a major K-pop concert and visitation linked to the Dragon Boat Festival. These types of cultural and entertainment events are increasingly playing a role in offsetting dips in gaming traffic caused by seasonal patterns.
J.P. Morgan analysts have interpreted the revenue data as a “solid start” to June, with the firm forecasting that the remainder of the month will experience a moderate softening in GGR. Projections suggest daily averages could drop to the MOP 600–620 million range as the post-holiday effect tapers off.
June Growth Still in the Cards
Despite the minor downturn in daily averages, J.P. Morgan expects overall GGR for June to post a year-on-year gain of 4%–7%. This would translate into second-quarter growth of around 3–4% year-on-year, and a modest 1–2% sequential uptick compared to Q1 2025.
Macquarie Research shared a similar sentiment in its latest update. According to the firm, daily GGR from 2–8 June fell 5% week-on-week, but remained flat when compared to the same period last year. The bank also reported slight declines in both mass-market and VIP betting volumes—down approximately 5% and 1–3% respectively—although casino net win margins held steady between 2.7% and 3%.
Entertainment Strategy Paying Dividends
The stronger-than-expected start to June underscores the effectiveness of Macau’s recent diversification strategies. Casino operators have been leaning more on non-gaming entertainment such as concerts, festivals, and conferences to drive visitation and prolong stays—especially crucial during historically quieter quarters.
While the remainder of June may show softer performance, the early revenue strength reflects a market that is gradually finding ways to stabilize outside of traditional high seasons. As Macau continues to evolve into a more comprehensive tourism and entertainment destination, short-term boosts like these could increasingly form part of a broader revenue resilience strategy.
