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Macau Casinos Miss Forecasts Amid China Woes
1 Jan
Summary
- Macau's December gaming revenue rose 14.8% to 20.9 billion patacas.
- Full-year 2025 revenue reached 247.4 billion patacas, 85% of 2019 levels.
- Market faces uncertainty from China's slowdown and regulatory risks.
Macau's gross gaming revenue increased by 14.8% in December, reaching 20.9 billion patacas. This growth, while positive, did not meet the 18% rise analysts had predicted, suggesting a potential slowdown in momentum for the world's largest gambling hub.
For the entirety of 2025, Macau's gaming revenue climbed 9.1% to 247.4 billion patacas. This figure brings the market close to its 2019 pre-pandemic level, achieving approximately 85% recovery. December's revenue alone reached 91% of the 2019 benchmark, despite promotional efforts.
Despite recent recovery led by premium players, the sector anticipates future challenges. China's property market slump, evolving gambling regulations, and international trade tensions pose significant risks to Macau's continued growth and stability.
