Jefferies raises Macau gambling revenue forecast 

Analysts expect annual gaming revenue to reach US$31.8bn.

Macau.- Jefferies has revised upwards its gross gaming revenue (GGR) forecast for Macau’s casino sector. Analysts now expect GGR for 2025 to reach MOP248bn (US$31.8bn), up from their previous estimate of MOP237bn (US$29.3bn). The figure would also be higher than government estimates.

Jefferies cited the impact of entertainment events and new properties as well as operators offering “more incentives to players,” and “new wealth” benefiting gamblers due to positive performances in the real estate, stock and cryptocurrency markets

Analysts Anne Ling and Jingjue Pei wrote: “We expect these drivers will continue to fuel GGR growth for the rest of the year. We expect events such as the NBA China Games and Macau Grand Prix will continue to help boost GGR in Sept-Dec.”

Jefferies expects GGR growth of between 13.8 per cent and 15.3 per cent year-on-year for the third quarter of 2025.

Earlier this week, the Gaming Inspection and Coordination Bureau (DICJ) reported that Macau’s gross gaming revenue (GGR) was MOP22.16bn (US$2.76bn) in August. That’s an increase of 12.2 per cent in year-on-year terms and slightly higher than July’s GGR of MOP22.13bn (US$2.73bn). Cumulatively, Macau’s GGR for the first eight months of 2025 was MOP163.05bn (US$19.11bn), up 7.2 per cent year-on-year. The figure was 11.7 per cent below pre-pandemic levels (MOP198.22bn / US$24.75bn).

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See also: Jefferies cuts Macau GGR forecast

Analysts expect annual gaming revenue to reach US$31.8bn. Macau.- Jefferies has revised upwards its gross gaming revenue (GGR) forecast for Macau’s casino sector. Analysts now expect GGR for 2025 to…