Macau’s Gaming Revenue Drops in January Despite High Hopes for 2025

Macau‘s gaming industry kicked off 2025 with a minor hiccup, as gross gaming revenue (GGR) in January decreased 5.6% compared to the previous year totaling MOP 18.25 billion ($2.27 billion), as reported by the Gaming Inspection and Coordination Bureau (DICJ). This amount exceeded December’s earnings but fell short of what the industry expected considering the typical increase in Chinese New Year-related tourism.

Experts Predict 8% Growth in Macau’s Gaming Revenue

Experts in the field expected a slow beginning to the year. They made comparisons with early 2024 when high VIP gambling numbers and good luck rates helped boost income. The weak January results came after a December affected by political events, including Chinese President Xi Jinping’s trip to Macau, which impacted visitor numbers.

To make things more complex new visa rules started on January 1. These were supposed to bring more tourists from Zhuhai and Hengqin. However, the effects of this change in policy have not shown up yet. Experts think other factors, like changes in how people spend money and economic conditions in mainland China played a bigger part in the low income numbers.

Even with the slow beginning, industry experts still believe Macau’s gaming revenue will grow overall in 2025. Predictions show an 8% rise from the previous year beating the government’s estimate of MOP 240 billion ($29.9 billion) in total GGR for the year. This positive outlook comes from better economic prospects in China, easier travel rules, and casinos in Macau going back to more standard ways to move money.

Macau’s Casino Recovery at Stake as Experts Weigh February Growth Prospects

Financial companies have made different guesses about how Macau will do in February during the ongoing Chinese New Year Golden Week. Some experts think there might be a small 3.5% growth compared to last year, while others say it could go up by 11.4% if holiday gambling meets what people expect.

JPMorgan experts stress that Chinese New Year financial numbers are key to figuring out if January’s poor showing was just a one-time thing or if it might last longer, reported Inside Asian Gaming. They think daily gambling money during the busiest holiday time needs to be more than MOP 1 billion ($122.9 million) for the industry to hit what the market expects.

Macau’s casino business has been bouncing back since COVID-19, with 2024‘s total GGR hitting MOP 226.8 billion ($28.3 billion), a 23.9% jump from last year. Still, the industry has not reached pre-COVID levels and is way behind its 2013 high of MOP 360.7 billion ($45.2 billion).To keep the ball rolling in 2025, Macau needs ongoing support from Beijing’s policies, better consumer trust, and more international visitors. Experts will keep a close eye on February’s numbers to see if the casino business can get back on track after January’s letdown.