Macau daily gaming revenue averages US$86.7m in first week of June, UBS says

The investment bank says first-week gaming revenue remained stable year-on-year, but analysts expect the FIFA World Cup to weigh on June and July performance.

Macau.- Gross gaming revenue (GGR) at Macau casinos averaged MOP700m (US$86.7m) per day in the first week of June, according to a research note from UBS. The investment bank described the performance as “flat” year-on-year. 

While the figure represents a 4 per cent decline from May’s daily average of MOP729m (US$90.2m), analysts noted that this is against a seasonally strong base and remains better than the historical June slowdown recorded before the pandemic. UBS reported that mass-market gaming revenue was down around 3 to 5 per cent month-on-month, while VIP volumes fell between 5 and 8 per cent. The VIP hold was estimated at 2.9 to 3.1 per cent.

Macau GGR forecast for June

UBS expects Macau’s June GGR to average around MOP695m (US$86m) per day. That would mean around MOP694m a day for the rest of the month. If achieved, it would represent a decline of around 1 per cent year-on-year and 5 per cent compared with May.

Analysts believe GGR growth in June and July will remain limited due to the strong comparative period mid-2025 and the impact of the FIFA World Cup, which runs from June 11 to July 19.

Citigroup is sticking to its lower forecast of MOP19bn (US$2.35bn) in GGR for June. That would imply average daily GGR of about MOP613m (US$76m) for the remainder of the month.

Citi data suggests GGR of MOP4.9bn (US$610m) in the first 7 days of the month, in line with UBS’s estimate. Citi’s analysts also noted the possible impact of China’s university entrance examinations, which took place on June 7 and 8 and typically discourage travel among families.

Analysts estimated that VIP gaming volumes declined between 5 and 8 per cent month-on-month and mass-market revenue by between 3 and 8 per cent.