Macao casinos recorded their fifth straight month of year-on-year decline, although revenue grew by 20.04 percent month-on-month
Macao’s October 2026 gambling revenue falls 10 percent to 21.68 billion patacas
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Macao casinos generated a gross gaming revenue (GGR) of 21.68 billion patacas (US$2.68 billion) in October 2026, down 10 percent when compared to October 2025’s 24.09 billion.
Despite the year-on-year drop, the GGR in October 2026 was 20.04 percent above the previous month’s 18.06 billion patacas, according to data published by Macao’s Gaming Inspection and Coordination Bureau on 1 November.
Overall, the accumulated gross revenue of local casinos during the first ten months of 2026 came to a total of 208.79 billion patacas, a rise of 1.6 percent year-on-year.
National Day holiday boosts Macao’s October 2026 GGR
Looking at October’s GGR, the month-on-month growth was not unexpected, as that month saw an influx of visitors as a result of the “golden week” holiday around National Day, which was celebrated in mainland China between 1 and 7 October.
According to data from the Macao Government Tourism Office, around 1.143 million tourists entered Macao during the seven-day break, with visitor arrival numbers averaging 163,000 per day, a 15.5 percent increase year-on-year.
Hotel occupancy during the week-long period remained strong, hitting an average figure of 91.3 percent and peaking at 97 percent on 2 October.
[See more: CLSA: VIP win rates to drive Macao casino quarterly earnings]
Meanwhile, Macao’s October 2026 GGR fell year-on-year due to the high baseline set last October, which was a post-Covid high, with growth for that period reaching around 16 percent year-on-year.
Additionally, analysts from Seaport Research Partners forecast a continued softening of demand for October 2026.
Macao’s quarterly GGR numbers
By quarter, local casinos reported a GGR of 66.04 billion patacas in the first quarter, followed by 61.21 billion patacas in the second quarter and 60.41 billion patacas in the third quarter.
Looking ahead, a number of analysts are predicting a marginal year-on-year drop for the fourth quarter, with projections ranging from flat to a drop of up to 4 percent.
Macao’s GGR in 2026
As for the entirety of 2026, the SAR government expects Macao’s GGR to hit 236 billion patacas, a rise of 3.5 percent in comparison to the revised 2025 forecast.
By contrast, analysts believe casino revenue could be higher, with CLSA expecting the GGR to grow by 2.3 percent to 253.2 billion patacas. Similarly, Jefferies’ current 2026 forecast stands at 252 billion patacas, up 1.7 percent year-on-year.
