The rise in revenue was mainly attributed to China’s five-day Labour Day holiday period<\/a>, which brought 850,034 visitors<\/strong> to Macau, an increase of 40.6 per cent in\u00a0year-on-year terms. During the holiday period, GGR was MOP5.1bn (US$633m), averaging MOP1.02bn (US$127m) per day, more than 90 per cent of pre-pandemic levels.<\/p>\n\n\n\n Cumulatively, Macau\u2019s GGR for the first five months of 2025 <\/strong>was MOP97.7bn (US$12.1bn), up 1.7 per cent year-on-year. The figure was 77 per cent of the same period of 2019 (MOP125.6bn) (US$5.5bn).<\/p>\n\n\n\n Citigroup’s May 2025 GGR forecast remains unchanged at MOP21bn, up 4 per cent year-on-year.\u00a0This would represent approximately 81 per cent of the March 2019 levels. Jefferies expects GGR for 2025 to reach MOP240bn (US$30bn), down 2 per cent from their previous estimate of MOP245bn. That would be a rise of 5.8 per cent year-on-year, which is in line with\u00a0government estimates<\/a>.<\/p>\n\n\n\n Moody<\/strong>\u2019s has maintained Macau\u2019s long-term issuer rating at\u00a0Aa3<\/strong>. The rating agency said that the decision was based on the city\u2019s strong fiscal and external positions and the absence of outstanding government debt, providing significant capacity to withstand shocks.<\/p>\n\n\n\n The agency maintained the outlook of the Macau government as negative. \u201cThere are risks that Macau\u2019s currently very large fiscal and external buffers may erode over time, should Macau\u2019s growth prospects weaken, although from a very high base,\u201d it said, noting that weaker economic activity in the gaming sector would lower government revenue and services exports, undermining fiscal and current account surpluses in the absence of mitigants.<\/p>\n\n\nMoody\u2019s keeps Macau long-term credit rating at Aa3<\/h2>\n\n\n\n
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