In August, Macau's casinos made MOP22.15 billion (US$2.76 billion), the most money made in the territory since January 2020.
August gross gaming revenue (GGR) increased 12.2% over the previous year, according to data released Monday by Macau's Gaming Inspection and Coordination Bureau. It was the ninth consecutive month that GGR increased year over year.
As of the first eight months of 2025, the six authorized operators of slot machines and table games in Macau had won $20.3 billion, a 7.2% increase in income over 2024. Since this time last year, the six casinos have made $1.36 billion more.
Four of the six Macau casino concessionaires, Sands, Wynn, MGM, and Melco, have publicly traded parent companies in the US. Shares of those companies will probably get a lift when trading starts tomorrow, even though markets are closed for Labor Day.
The Return of Macau
Concerns that Macau's glory days were coming to an end were allayed just recently when Chinese President Xi Jinping used the COVID-19 outbreak to transform the gambling mecca. VIP junket groups, travel agencies that had long partnered with the casinos to lure high rollers from the mainland to the Chinese Special Administrative Region, were told to leave by Xi.
Many experts and investors questioned if the six casinos could survive the regulatory storm in addition to being obliged to invest billions of dollars on their resorts, with the majority of the funds going toward nongaming projects. The six casinos in Macau changed their focus from high rollers to the general public by adding new features and attractions. So far, it's paying off.
Macau reported a new post-COVID-19 GGR high for the third consecutive month in August. In June and July, they earned $2.62 billion and $2.75 billion, respectively.
"We foresee sustained double-digit GGR growth in the coming quarters at least until the first quarter 2026,” said a note from JP Morgan, adding that the summer was a “busy and happy” time in the enclave.
According to a Citigroup study, Macau has rapidly emerged as a significant K-pop destination. Through Galaxy Macau, the city hosted the Tencent Music Awards on August 24. Leading performers like i-dle, TWICE, Zhou Shen, Jane Zhang, Ekin Cheng, and Lee Jun-young have performed in Macau, according to earlier reports from Casino.org.
The Chinese economy
The second-largest economy in the world, China's, is changing. One bright spot in the midst of a structural downturn is that China's leaders are pushing for increased domestic spending as the country transitions from an export-led economy to one centered on high-tech manufacturing.
"Consumers have some capacity to spend more in China,” said Rob Haworth, senior investment strategy director with U.S. Bank Asset Management Group. “Even though the economy isn’t booming today, it is still growing.”
China's GDP per capita is still below $14,000, which is comparatively low for developed nations. Nonetheless, the wages rate is a reflection of both the enormous wealth gap and the size of China's population.