Casino revenue rises 6.8% in February

Gaming revenues in February climbed by 6.8% year-on-year to MOP19.74 billion, surpassing analysts’ forecasts, according to the Gaming Inspection and Coordination Bureau.

The positive performance was partly attributed to the Lunar New Year holiday, or Golden Week, which brought an influx of visitors.

Macau welcomed approximately 1.3 million arrivals during the eight-day holiday, a slight decline of 3.5% compared to the previous year.

However, January’s total visitation of 3.6 million surpassed 2019 figures by 6%.

February’s visitation data is expected later this month.

Last month, JP Morgan Securities (Asia Pacific) Ltd. reported that the gambling sector experienced stronger-than-anticipated demand following the Lunar New Year holiday.

This memo comes after the city reported a year-on-year decline of 5.6% in gross gaming revenue (GGR), totaling MOP 18.25 billion in January.

Despite the post-holiday resilience, JP Morgan forecasts Macau’s full-year GGR to grow by only 1% to 4% in 2025, lower than the industry consensus of 5% growth.

Also, Citigroup has sharply reduced its 2025 growth forecast for the city’s GGR, citing the disappointing Chinese New Year CNY gambling volume and the implementation of US tariffs on Chinese exports.

The banking group now predicts a 1% year-on-year decline in first-half GGR, compared to its earlier 7% growth forecast. LV