Macau gaming revenue rises 6% in September 2025; impacted by typhoon closures

The Gaming Inspection and Coordination Bureau (DICJ) reported that Macau’s gross gaming revenue (GGR) reached MOP 18.3bn ($2.27bn) in September 2025, a 6% year-on-year increase despite a devastating typhoon impacting the region within the same month. However, results missed the median analyst expectation of a 9% rise.

According to the official monthly breakdown, accumulated revenue for January–September 2025 reached MOP 181.3bn, representing a 7.1% increase. 

Growth in recent months has been supported by stronger tourist flows, although September’s performance reflected weaker demand following the summer peak and disruptions from Super Typhoon Ragasa, which forced temporary casino closures.

September traditionally marks a slowdown in visitation following the summer holiday season. The Macau Government Tourism Office is expected to release official visitor arrival data later in October, but August had set a strong benchmark with 4.2 million arrivals – 116% of 2019 levels.

Weather also contributed to September’s softer-than-expected performance. 

Good to know: Typhoon Ragasa triggered the city’s highest storm signal, with casinos shuttered for more than a day

Analysts suggest October could see a stronger rebound as China’s National Day Golden Week begins. Hotel bookings are already reported at near full capacity, with forecasts of 1.2 million arrivals over the holiday and daily GGR projected between MOP 730m and MOP 750m. 

Nevada, the other major gaming hub, reported a 5.5% increase in statewide gaming revenue for August 2025, reaching $1.23bn. Growth there was led by a surge in sports wagering, particularly ahead of the NFL season, while baccarat and $5 slots showed strong performance on the Las Vegas Strip.

Macau remains below its pre-pandemic benchmark, with September GGR still 17% lower than in 2019. The divergence highlights structural differences between the US and Asian gaming markets, as Macau leans heavily on mass tourism flows while Nevada benefits from diversified product segments such as sports betting.

Industry executives remain cautiously optimistic, citing premium mass demand and event-driven tourism as potential drivers. 

Major events in Macau during Q4, including concerts and the NBA China Games featuring the Brooklyn Nets and Phoenix Suns, are expected to attract new visitors.

While September underperformed expectations, the upcoming Golden Week holiday is anticipated to deliver one of the strongest months of 2025 for Macau’s gaming sector.

David Thompson

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