Macau’s Casino Revenue Climbs 24% in January, Signaling Recovery

Macau kicked off 2026 with a notable increase in casino revenue, further indicating a sustained economic recovery from the previous year. According to the latest data from the city’s gaming and statistics authorities, casinos generated over MOP22.63 billion (US$2.81 billion) in gross gaming revenue in January. This reflects a 24% rise from MOP18.25 billion in January 2025.

This figure also represents an 8% increase from December’s revenue of MOP20.89 billion. Bank analysts noted the robust activity, with JP Morgan describing the GGR as “steady and solid”. It estimated daily earnings at MOP712 million over the first 25 days of the month.

2025 Year-End Results Set Strong Foundation

Macau’s impressive January results follow a remarkable 2025, where total casino revenue reached MOP247.40 billion. The results marked a 9.1% increase from the previous year and the highest since the COVID-19 pandemic began.

Prior to the pandemic, Macau’s casinos nearly achieved MOP292.46 billion in revenue in 2019.

Looking forward, local government officials have adopted a cautious outlook for 2026, projecting casino revenue at MOP236 billion. Secretary for Economy and Finance Tai Kin Ip described this forecast as “prudent”, highlighting Macau’s vulnerability to “international economies.” Analysts also noted that January’s performance benefited from VIP win rates and favorable visitation conditions.

Tourism and Events Boost Economic Indicators

Macau’s economy showed signs of robust recovery towards the end of 2025. Preliminary data reveals a 7.6% year-on-year increase in gross domestic product for the fourth quarter, totaling MOP115.39 billion (US$14.24 billion). The Statistics and Census Service noted that the economy made “steady progress”, achieving 94.1% of the output recorded in the same quarter of 2019.

A significant 15.4% increase in visitor arrivals contributed to a 9.8% rise in total service exports. The rise was driven by “numerous large-scale events” and “government efforts to attract visitors.”

Domestic Demand Drives Macau GGR Growth

Domestic demand played a vital role in Q4’s economic growth of Macau, with private consumption expenditure rising 1.1% and government spending increasing by 1.3% compared to the previous year. Investment activity also saw slight gains, as gross fixed capital formation grew by 0.9%.

For the entire 2025, Macau’s preliminary GDP reached MOP417.28 billion (US$51.5 billion), reflecting a 4.7% increase from 2024. Despite welcoming over 40 million tourists, the economy remained 89.6% of its 2019 pre-pandemic output. Together, the January gaming results and late-2025 data indicate a stronger start to the new year.