Macau sets post-pandemic record – how does Nevada compare?

After a month that saw Macau generate MOP 22.13bn ($2.74bn), Nevada has struggled to keep up.

The Gaming Inspection and Coordination Bureau (DICJ) has released Macau’s gaming revenue figures for the month of July. 

In total, gaming revenue reached MOP 22.13bn ($2.74bn), the highest since the Covid-19 pandemic and reflective of 19% year-over-year growth, the same rate of growth reported in June. In total, gaming revenue for the year so far came to MOP 140.9bn, up 6.5% from the same period last year.  

While Macau still has room to recover to pre-pandemic levels, with July 2019 revenue coming to MOP 24.45bn, these results, combined with six months of year-over-year growth, paint a wholly different picture to results coming from Vegas. 

By contrast, Nevada gaming revenue in June (which it reported this week) totaled $1.3bn, up 3.5% year-over-year. The Vegas Strip specifically made $765.3m, up 0.9%, while Downtown Las Vegas made $73.2m, up 10.5%. 

Indeed, bar Elko County, all areas of Nevada saw an increase in gaming revenue, though notably, this growth rarely exceeded 10%. It is also the first time in three months that the state has been able to report year-over-year growth, with Vegas currently experiencing a dip in tourism, according to data from the Las Vegas Convention and Visitors Authority.  

Good to know: Vici Properties, which leases Nevada properties to Caesars, MGM Resorts and others, reported a rise in revenue this quarter, up 4.6% to $1bn

This is to say, while both Macau and Nevada have seen growth in their latest set of results, this growth is minimal in Nevada, while in Macau, it has been both consistent and sharp, with both June and July experiencing annual revenue growth of almost 20%.

Macau did witness a period of rare annual decline at the back end of 2024 and the start of 2025, but has significantly picked up since. 

Whether Nevada’s uptick in earnings is a sign of recovery, and whether it will be able to keep up with the growth of its Asian competitor, is yet to be seen.  

Beth Turner

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