Macao’s September gross gaming revenue continues year-on-year slide

Macao’s casino industry generated a gross gaming revenue (GGR) of 18.06 billion patacas (US$2.23 billion) in September 2026, falling lower than the 18.28 billion patacas (US$2.26 billion) logged during the same month in 2025. 

Month-on-month, September’s revenue represented a drop from August’s 21.89 billion patacas, according to data published by Macao’s Gaming Inspection and Coordination Bureau on 1 October 2026. 

What drove Macao’s gaming revenue in September 2026? 

September has generally been a lacklustre month for the gaming industry, wedged between the busy summer holiday break and China’s National Day holiday week.

Various analysts, including Jeffrey Kiang and Evan Wan of brokerage group CLSA, noted that the 2026 FIFA World Cup (11 June to 19 July) was one of the reasons for Macao’s GGR slowdown in June and July, driving punters away from local casinos. 

Similarly, Maria Helena de Senna Fernandes, the director of the Macao Government Tourism Office (MGTO), noted that tourism arrival figures were “slow to warm up” as a result of “FIFA World Cup fever,” even though they were “satisfactory.” With the tournament over, demand has not rebounded sufficiently to boost September’s GGR. 

[See more: September divides Macao gambling analysts, with budget constraints the pivotal driver]

September’s overlap with mainland China’s Mid-Autumn Festival, between 25 and 27 September 2026, has also not proved to be the boost that was hoped for.

How much gaming revenue has Macao earned in the first nine months of 2026? 

Overall, the local gambling industry generated a cumulative GGR of 187.1 billion patacas between January and September 2026. This total compares to the 181.3 billion generated during the same period in 2025.

What will Macao’s GGR look like for the rest of 2026? 

Looking ahead, analysts from finance firm J.P. Morgan believe GGR will experience a year-on-year drop of 2 to 4 percent in October, despite the month coinciding with the National Day holiday, which runs between 1 and 7 October. 

As for the fourth quarter of 2026, Seaport analyst Vitaly Umansky, cited by gaming specialist publication Inside Asian Gaming on 2 September 2026, forecast a year-on-year growth of 2.5 percent.

Based on the 2026 budget, Macao’s full-year 2026 GGR is projected to reach 236 billion patacas (US$29.13 billion), up 3.5 percent in comparison to the government’s revised 2025 forecast. 

Analysts expect the target to be exceeded, with CLSA predicting 253.2 billion patacas, up by about 2 percent on 2025’s actual 247.4 billion patacas, according to a report published by GGR Asia on 13 July 2026.