Macau Casino Revenue Leaps 19% to $2.6B in June on Concert Boosts

Macau’s casino sector experienced substantial growth in June with gross gaming revenue reaching MOP21.06 billion (US$2.60 billion), marking a 19% year-on-year surge. The Gaming Inspection and Coordination Bureau confirmed it as the second-highest monthly result, slightly below May’s record MOP21.19 billion (US$2.62 billion).

While reflecting a 0.6% monthly drop, the performance exceeded market expectations. June’s figures brought 2025’s first-half revenue to MOP118.77 billion (US$14.69 billion), a 4.4% annual increase. The rebound follows an unexpected softness earlier in the year, prompting the government to revise its 2025 target downward to MOP228 billion from MOP240 billion.

Entertainment Catalyst

June’s exceptional casino revenue performance defied seasonal slowdown projections. Analysts unanimously credit Cantopop icon Jacky Cheung’s concert series as the main growth driver. Financial reports revealed that premium player volumes surged 16% year-on-year on opening night alone, with average wagers rising 36%.

A June 20 survey further documented 58% higher premium mass betting volumes. JP Morgan cited Cheung, dubbed the “God of song”, for triggering an unexpected seasonal surge. Citi analysts backed these positive survey findings, stating, “We attribute all positive findings from our survey to him.” Seaport Research’s Vitaly Umansky and Bloomberg also reinforced that Cheung’s entertainment events were pivotal to Macau’s revenue growth.

Cheung’s nine-show Galaxy Arena residency, running from mid-June into July, continues to amplify visitor traffic across Cotai properties, sustaining the SAR’s upward revenue trajectory.

Market Optimism

While Macau’s positive first-half revenue is a 4.4% year-on-year uptick, it’s still 20.5% below pre-pandemic levels: in 2019, the first six months raked in MOP149.50 billion (US$18.49 billion). Nevertheless, June’s performance, reaching 88% of June 2019’s revenue, signaled accelerated recovery momentum compared to January and February’s sluggish start.

Investor response to the positive performance was almost immediate, with shares of Macau-based operators surging on Tuesday following the revenue report. Melco Resorts (MLCO) led gains with a 7% jump, trailed by Las Vegas Sands (LVS) at 3.6%, Wynn Resorts (WYNN) at 3.3%, and MGM Resorts (MGM) at 0.4%. This reflects a renewed market confidence in the region’s normalization trajectory.

Growth Amid Regulatory Changes

Macau’s gaming revenue surge coincides with impending regulatory shifts, notably the planned phase-out of third-party-operated satellite casinos by the end of 2025. These changes, potentially affecting ZAPE district areas, don’t seem to dim sector optimism. Citigroup maintains a 6% year-on-year GGR rise projection for the second half of the year, citing holiday demand, entertainment events, and normalizing tourist flows.

Lucas is a New Jersey-born and raised copywriter. His content encompasses casino, software provider, and game reviews, news, and blogs. Lucas’ professional writing experience spans more than six years. He works globally with clients from the US, the UK, New Zealand, Australia, South Africa, and Canada. Before he started writing gambling content, Lucas went to Rutgers University to pursue a bachelor’s degree in psychology. Just to shake things up, he became a painter, following in his father’s footsteps. He now writes full-time and doubles in painting now and then.

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