Casino revenue in Macau increases by 0.8% Year-on-Year in March, according to official report.
Casino Gaming Revenue in Macau Shows Slight Increase, Yet Remains Below Pre-Pandemic Levels
Hop on board, folks! I got the lowdown on Macau's casino game — and it's not exactly hitting the jackpot, but there's some movement in the right direction.
According to the data from the Gaming Inspection and Coordination Bureau, Macau's casino gross gaming revenue (GGR) clocked in at approximately MOP 19.66 billion (US$2.45 billion) in March, marking a 0.8% year-on-year increase. However, it's essential to note that this number represents a meager 0.4% uptick compared to the previous month, February, which brought in MOP 19.74 billion.
Now, you might be wondering, how does that stack up for the year, huh? Well, with March's results, the total GGR for Q1 2025 hovers around MOP 57.66 billion, showing a 0.6% increase over the same period in 2024. Comparing that to the pre-pandemic days, March's GGR falls short by a significant margin — a paltry 76.1% of the MOP 25.84 billion recorded in March 2019.
JP Morgan Securities (Asia Pacific) Ltd. prognosticates that Macau's GGR growth could pick up steam in the second half of 2025. They anticipate a year-on-year increase of 5% to 6%, primarily due to more advantageous comparisons as we move into the latter half of the year. This growth, they suggest, will largely be propelled by a period of stagnancy in the first half, followed by a rebound in gaming activity. And if you ask them straight up, JP Morgan analysts expect a modest 3% growth for Macau's GGR in 2025 as a whole.
So, here's the kicker — despite the positive projections for the latter half of the year, the first half is expected to show limited growth. However, there's an anticipation for a stronger rebound in the second part of 2025, driven by factors such as an improved comparison base and a hoped-for recovery in gaming activity.
But a word of caution — JP Morgan's exact projections for the GGR growth rate in the second half of 2025 remain elusive in the investigation I conducted. To get a spot-on forecast, it would be wise to consult the latest reports directly from JP Morgan Securities (Asia Pacific) Ltd.
Although the casino gaming revenue in Macau is showing a slight increase, it still remains below pre-pandemic levels, indicating a need for continued growth in casino-and-gambling trends to reach its former success. The GGR for Macau's casino games is anticipated to pick up in the second half of 2025, with a projected year-on-year increase of 5% to 6%, perhaps signifying a revival in gambling-trends.
