Macau

Macau's gaming tax rose 5.2% to MOP81.53 billion (US$10.09 billion) in the first 10 months of 2026, but October receipts fell 1.4% as casino revenue weakens.

Melco's Q3 net income dropped to just US$34,000 as Macau GGR fell 3.8%. Wynn and SJM also weakened, while MGM China posted record revenue.

Macau's October GGR fell 10% to MOP21.68 billion, its fifth straight monthly decline, even as Golden Week set a single-day visitor record.

Macau's economy likely shrank about 2% in the third quarter as casino revenue fell, and brokers now expect October gaming revenue to decline too.

Macau's mass baccarat revenue dropped 4.5% to MOP33.6 billion ($4.03 billion) in the third quarter, its lowest of 2026, while VIP baccarat climbed 6.3%.

CLSA forecasts an 11% drop in Macau casino EBITDA for Q3, while Goldman Sachs sees a 9% fall, as rising commissions and soft gaming revenue squeeze margins.

Chief Executive Sam Hou Fai says Macau will keep its MOP236 billion (US$29.2 billion) GGR target as October's Golden Week result becomes crucial for 2026.

Macau set a single-day visitor record during Golden Week, but September GGR fell 1.2%, and analysts are cutting forecasts. Here is what the data shows.

Macau's September GGR slipped 1.2% to MOP18.06 billion despite an easy comparison, and CLSA warns earnings forecasts may face further cuts.

The IMF's 2026 Article IV report says mass-market play made up about 73 percent of Macau's GGR in 2025, with VIP gaming expected to stay relatively low.