It expects monthly GGR to be up by 13 to 21 per cent year-on-year
Macau.- Macquarie Research has forecast a solid December for Macau’s gaming industry with stable mass-market demand and recovering VIP volumes. According to a research note published on Monday, December 15, it expects monthly GGR to be up by 13 to 21 per cent year-on-year to MOP20.6bn-MOP22bn (US$2.55bn to US$2.72bn), based on daily GGR of MOP640m-MOP720m (US$79.4m to US$89.3m).
Macquarie reported that last week average daily revenue was down 12 per cent week-on-week to around MOP650m (US$80.6m), mainly due to weaker VIP hold with win rates at 2.3 to 2.7 per cent vs 3.3 to 3.5 per cent in November.
The note suggests that Macau’s gaming market is continuing to normalise, with steady demand despite VIP fluctuations. However, Macquarie warned of a potential market share loss of 1 per cent for SJM amid the closure of satellite casinos. It also signalled increasing promotional activities from operators like Sands China.
Beyond gaming, Macquarie expects improving luxury consumption to drive growth for Macau’s integrated resort operators, supporting retail businesses. These factors contribute to the firm’s bullish outlook for Macau’s 2026 GGR. It expects mid-single digit growth, higher in Q1 but moderating in Q2.
It expects monthly GGR to be up by 13 to 21 per cent year-on-year Macau.- Macquarie Research has forecast a solid December for Macau’s gaming industry with stable mass-market demand…
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