Macau GGR reaches US$1.59m in first 18 days of May, Citigroup says
Analysts say daily average gross gaming revenue was MOP706m.
Macau.- Analysts at Citigroup have estimated that Macau’s gross gaming revenue (GGR) for the first 18 days of May was MOP12.7bn (US$1.59m). The estimated GGR run rate was MOP706m (US$87.6m) per day.
Analysts George Choi and Timothy Chau said the daily run rate for the week of May 12-18 was MOP593m (US$73.6m), a rise of 3 per cent compared to the previous week. Analysts said VIP volume rose 10 to 12 per cent month-on-month, while mass market GGR grew 6 to 8 per cent. The VIP hold rate appeared to be higher compared to the previous week.
In the first week of the month, the Labour Day golden week, Macau’s GGR reached MOP5.1bn (US$633m), averaging MOP1.02bn (US$127m) per day. That’s a rise of 12 per cent to more than 90 per cent of pre-pandemic levels. The Public Security Police reported that 850,034 visitors arrived in Macau during the holiday period. That’s an increase of 40.6 per cent in year-on-year terms, surpassing the estimate of 635,000 to 700,000 forecast by Macau Government Tourist Office (MGTO) director Maria Helena de Senna Fernandes.
Citigroup said its May 2025 GGR forecast remains unchanged at MOP21bn, up 4 per cent year-on-year. This would represent approximately 81 per cent of the March 2019 levels.
In April, Macau GGR was MOP18.86bn (US$2.36bn), an increase of 1.7 per cent in year-on-year terms but a dip of 4.1 per cent sequentially. GGR was 77.33 per cent of April 2019’s level. For the first four months of 2025, GGR was MOP76.51bn (US$9.54bn), up 0.8 per cent year-on-year. The figure was 23.3 per cent lower than the same period of 2019 (MOP99.74bn) (US$12.44bn).
