Macau sees best Golden Week revenue in over five years, JP Morgan says

The daily average was MOP1.1bn (US$138m).


Macau.- JP Morgan analysts have reported that casino gross gaming revenue (GGR) in Macau was MOP5.5bn (US$686.1m) in the first five days of October That’s a daily average of MOP1.1bn (US$138m).

Analysts DS Kim, Selina Li and Lindsey Qian said in a memo that it was the “best Golden Week print in five-plus years.” Their full-month forecast remains unchanged for now at between 11 and 13 per cent growth year-over-year to a six-year high of MOP$23bn (US$2.87bn).

“We continue to expect the second week’s GGR to grow mid-to-high-teens year-on-year to around MOP$750m (US$94m) per day, implying circa 30 per cent week-on-week decline versus last year’s circa 40 per cent week-on-week decline,” they wrote.


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The Public Security Police Force (CPSP) reported that Macau received more than 790,000 visitor arrivals during the first five days of the October Golden Week, which runs from October 1 to 8. The police expect 1.2 million visitors during the 8-day holiday.

Seaport Research Partners has also forecast that GGR could rise by 13 per cent year-on-year in October. Analyst Vitaly Umansky said October would contributed to growth of 12.4 per cent in the last quarter. He forecasts total 2025 GGR growth of 8.4 per cent year-on-year.

The Gaming Inspection and Coordination Bureau (DICJ) reported that Macau’s gross gaming revenue (GGR) was MOP18.3bn (US$2.27bn) in September, up 6 per cent in year-on-year terms, but 17.5 per cent behind August, when GGR reached MOP22.16bn (US$2.77bn), the highest monthly total of 2025 so far.  Casino operations in September were disrupted by Super Typhoon Ragasa, which led to a government-mandated closure of casinos for 33 hours.

The daily average was MOP1.1bn (US$138m). Macau.- JP Morgan analysts have reported that casino gross gaming revenue (GGR) in Macau was MOP5.5bn (US$686.1m) in the first five days of October…


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