Macau Posts Lowest Monthly GGR of 2026 in September

Macau.- 2 October 2026 | www.zonadeazar.com Macau casinos generated gross gaming revenue, GGR, of MOP18.06 billion, or approximately US$2.24 billion, in September 2026.

The result represents a 1.2% year-on-year decline and marks the lowest monthly total recorded so far this year.

Sharp Decline From August

Revenue also fell significantly compared with the previous month.

Macau generated MOP21.89 billion in GGR during August.

September therefore represented a 17.5% month-on-month decline.

Fourth Consecutive Annual Decline

September extended Macau’s run of year-on-year GGR declines to four consecutive months.

The result reflects weaker momentum following stronger growth earlier in 2026.

Year-to-Date Revenue Still Higher

Despite the recent slowdown, Macau remains in positive territory for the year.

GGR for the first nine months of 2026 reached MOP187.116 billion, approximately US$23.19 billion.

That represents a 3.2% increase compared with the same period of 2025.

Growth Rate Slows

Cumulative growth through August had stood at 3.7%.

September’s weaker performance reduced year-to-date growth to 3.2%, highlighting a gradual slowdown.

Still Below 2019 Levels

The market has not yet fully recovered to pre-pandemic levels.

Nine-month GGR remains 15.1% below the MOP220.297 billion generated during the equivalent period of 2019.

September revenue was also 18.2% below the same month in 2019.

Visitor Growth Fails to Lift Revenue

The decline came despite stronger visitor numbers during the Mid-Autumn Festival holiday.

Macau welcomed approximately 415,000 visitors during mainland China’s three-day break.

That represented a 19.5% year-on-year increase.

Market Forecasts

The result was broadly in line with Citigroup’s revised estimate of around MOP18 billion.

The brokerage had lowered its September forecast after identifying weakness in premium-mass gaming activity.

Industry Context

Macau recorded a strong recovery through much of 2025 and early 2026.

Recent months, however, have shown greater volatility amid shifts in visitor patterns, premium-player activity and external market factors.

Next Steps or Impact

October performance will be closely watched to determine whether Golden Week and the final quarter can restore momentum.

While year-to-date revenue remains above 2025 levels, four consecutive annual declines and September’s yearly low increase scrutiny around Macau’s growth trajectory.

Editó: @fonta