Macau’s gaming industry has experienced its most robust month since the onset of the COVID-19 pandemic, with October 2025 recording the highest gross gaming revenue (GGR) since pre-pandemic October 2019. This significant recovery signals a strong rebound for the region’s vital tourism and entertainment sector.
Key Takeaways
- October 2025 marked Macau’s best gaming month since October 2019.
- Gross Gaming Revenue (GGR) reached MOP24.086 billion (US$3.01 billion).
- The recovery has seen nine consecutive months of year-over-year growth.
- Golden Week holiday significantly boosted visitor numbers and revenue.
- China’s resilient economic performance contributed to increased domestic spending.
October’s Record-Breaking Performance
The enclave’s Gaming and Inspection Coordination Bureau reported that GGR for October 2025 totaled MOP24.086 billion (US$3.01 billion). This figure surpasses August’s performance, which was previously the best month in the post-pandemic era, with casino win reaching $2.76 billion. The October results represent a 15.9% increase compared to the previous year, exceeding the median analyst expectation of 11.7% year-over-year growth. The revenue achieved 91.2% of the GGR recorded in October 2019.
Golden Week Drives Visitor Surge
October traditionally benefits from the Golden Week holiday, a period of paid time off for many Chinese workers that encourages travel. This year, over 1.3 million people visited Macau during the eight-day celebration, with 873,500 of those travelers coming from mainland China. While a typhoon in late September caused some disruption, including a 33-hour casino closure, the impact on October’s overall performance was mitigated.
China’s Economic Resilience Bolsters Macau
Analysts note that China’s economic stability has played a crucial role in Macau’s recovery. Despite concerns about slowing exports and trade tensions, China’s third-quarter GDP growth of 4.8% year-over-year has kept its annual growth target within reach. This economic resilience has supported robust export activity and domestic spending, benefiting Macau’s gaming sector. Recent positive developments in trade relations between the US and China, including agreements on soybean sales and rare earth minerals, and a potential easing of tariffs, further contribute to a stable economic outlook.
Outlook for the Remainder of the Year
October’s strong performance is expected to fuel a robust conclusion to Macau’s most significant post-pandemic economic rebound. Year-to-date GGR is up 8% from 2024, indicating a sustained recovery trend for the region.
