Macau’s gaming industry achieved its strongest monthly performance since the Covid-19 pandemic began, recording MOP 21.19 billion ($2.62 billion) in gross gaming revenue (GGR) in May 2025, according to data from the Gaming Inspection and Coordination Bureau (DICJ). This represents a 5% year-on-year increase and surpasses the previous post-pandemic high of MOP 20.79 billion recorded in October 2024.
The rise in revenue was primarily driven by the Labour Day Golden Week from May 1–5, which attracted nearly 850,000 visitors to the region. During this holiday period, daily GGR is estimated to have topped MOP 1 billion, significantly boosting the monthly total.
May 2025 marked the highest single-month GGR since January 2020, before pandemic restrictions disrupted the sector. Additional factors contributing to this success include the soft opening of the Capella hotel at Galaxy Macau, which drew high-spending VIP clientele and helped lift average daily GGR to MOP 686 million during the third week of the month.
Despite May’s strong showing, year-to-date GGR from January through May reached MOP 97.7 billion, up only 1.7% from the same period in 2024 and below the monthly average needed to meet the government’s MOP 240 billion annual target.
The opening of Capella Macau significantly boosted VIP gaming, with analysts estimating a 25–30% increase in turnover. The venue also recorded elevated VIP win rates of 3.5–3.7%, reinforcing the trend of luxury-driven market expansion.
May’s GGR rose 12.38% from April’s MOP 18.59 billion, which itself marked the third consecutive month of gains. This momentum follows a slow start in January and reflects growing travel demand and investment in high-end hospitality. Compared to global gaming markets, Macau is recovering faster. In contrast, Las Vegas reported a 1.1% decline in March revenue, with the Strip seeing a 4.8% year-on-year drop.
With continued recovery, Macau remains on track for further growth. The October National Day Golden Week is expected to be a key catalyst as the city targets its full-year GGR goals and strengthens its position as the world’s premier gaming hub.
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