{"id":777025950,"date":"2025-05-02T09:57:47","date_gmt":"2025-05-02T12:57:47","guid":{"rendered":"https:\/\/focusgn.com\/asia-pacific\/?p=777025950"},"modified":"2026-04-21T23:23:16","modified_gmt":"2026-04-22T02:23:16","slug":"macau-ggr-rises-year-over-year-in-april","status":"publish","type":"post","link":"https:\/\/focusgn.com\/asia-pacific\/macau-ggr-rises-year-over-year-in-april","title":{"rendered":"Macau GGR rises year-over-year in April"},"content":{"rendered":"\n

Gross gaming revenue amounted to MOP18.86bn (US$2.36bn).<\/p>\n\n\n\n\n\n\n\n

Macau.- The\u00a0Gaming Inspection and Coordination Bureau\u00a0(DICJ)\u00a0<\/strong>has reported that Macau\u2019s April gross gaming revenue (GGR) was\u00a0MOP18.86bn (US$2.36bn). That\u2019s an increase of 1.7 per cent\u00a0in\u00a0year-on-year terms<\/a> but a dip of 4.1\u00a0per cent\u00a0sequentially<\/a>. GGR was 77.33 per cent of April 2019’s level.<\/p>\n\n\n\n

According to analysts, the figure was boosted by the Easter holiday period from April 18 to 21, when Macau received 520,065 visitors<\/a>. Cumulatively, Macau’s GGR for the first four months of 2025 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).<\/p>\n\n\n\n

Seaport Research Partners<\/a>\u00a0has revised downwards its GGR forecast for\u00a0Macau’s casino sector\u00a0<\/strong>for this year from 6.5 per cent to 3 per cent. The move follows a \u201cweaker than expected start to the year.\u201d For 2026 and 2027, analysts maintained their forecasts at 7 per cent, with GGR expected to reach 92 per cent of 2019 levels by 2027.<\/p>\n\n\n

\n
\"The
Macau’s GGR for the first four months of 2025 was MOP76.51bn (US$9.54bn), up 0.8 per cent year-on-year.<\/figcaption><\/figure>\n<\/div>\n\n\n

In a note released on April 24, Fitch Ratings<\/strong> said there were no signs that China was targeting US casino companies but that the fear of retaliation was there due to the ongoing trade tensions between the US and China.<\/p>\n\n\n\n

“Trade tensions between the US and China have raised concerns that US gaming operators could be subject to retaliation, while the weaker economic outlook in China is likely to pressure gaming revenues and earnings in Macau,” it noted.<\/p>\n\n\n\n

It added: \u201cTermination or non-renewal of these operators\u2019 Macau gaming licences in 2032 would be a worst-case scenario, which Fitch views as highly unlikely. A scenario where US operators are compelled to sell their Macau operations could become more plausible if US-China relations deteriorate further in the medium term, but that is not envisaged in the forecast horizon.\u201d<\/p>\n\n\n\n

There are three US-based Macau casino operators: Las Vegas Sands (LVS), Wynn, and MGM Resorts International. Macau accounted for 63 per cent, 52 per cent and 23 per cent of their consolidated 2024 revenues, respectively.<\/p>\n","protected":false},"excerpt":{"rendered":"

Gross gaming revenue amounted to MOP18.86bn (US$2.36bn).<\/p>\n","protected":false},"author":176,"featured_media":777022557,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"is_press_release":false,"is_interview":false,"is_opinion":false,"focusai_summary":"Macau's April 2025 Gross Gaming Revenue (GGR) reached MOP18.86bn, marking a 1.7% year-on-year increase but a 4.1% sequential dip. Analysts have revised down 2025 GGR forecasts due to a weaker start, while Fitch Ratings highlights significant geopolitical risks for US-based operators in Macau amid US-China trade tensions, potentially impacting their substantial revenue contributions.","focusai_entities":"Gaming Inspection and Coordination Bureau (DICJ), Seaport Research Partners, Fitch Ratings, Las Vegas Sands (LVS), Wynn, MGM Resorts International","focusai_location":"Macau, China, US","focusai_target_profile":"ceo_executive (0.9), regulator (0.7), operator_casino (0.9), investor_analyst (1.0), supplier_vendor (0.7), journalist_researcher (0.9)","focusai_suggestions":[{"label":"2025 GGR Drivers?","query":"What specific demand-side factors, beyond the Easter holiday boost, are influencing Seaport Research Partners' revised 2025 GGR forecast for Macau, and how do these compare to pre-pandemic recovery trajectories?"},{"label":"US Operator Contingency?","query":"Given Fitch Ratings' assessment, what specific operational or capital allocation strategies are US-based Macau operators considering to mitigate the financial impact of escalating US-China trade tensions on their significant Macau revenue contributions?"}],"footnotes":""},"categories":[16338,163],"tags":[23908,23906,24720],"class_list":["post-777025950","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-east-asia-news","category-finance-news","tag-gaming-regulation","tag-macau-casinos","tag-us-casino-operators"],"_links":{"self":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/777025950","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/users\/176"}],"replies":[{"embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/comments?post=777025950"}],"version-history":[{"count":3,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/777025950\/revisions"}],"predecessor-version":[{"id":777025989,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/777025950\/revisions\/777025989"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/media\/777022557"}],"wp:attachment":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/media?parent=777025950"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/categories?post=777025950"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/tags?post=777025950"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}