Casino revenue slows in September amid fewer visitors, typhoon disruptions

The gaming industry saw moderate growth in September, posting a 6% year-over-year increase in gross gaming revenue to MOP18.3 billion, according to figures released by the Gaming Inspection and Coordination Bureau.

The result fell short of market expectations, which had forecast a 9% rise, reflecting a slowdown in visitor numbers after the summer travel peak.

Observers attributed part of the decline to the 33-hour closure of casino operations, implemented in the early hours of September 24 as Ragasa prompted the city’s highest Signal No. 10 warning. Casinos were allowed to reopen at 2 a.m. on September 25 after the storm abated and signals were gradually lowered.

The month’s revenue remains about 17% below pre-pandemic levels in 2019.

Cumulative gross gaming revenue for the first nine months of 2025 reached MOP181.34 billion, representing a 7.1% increase year-over-year.

Meanwhile, visitor arrivals surged in August to 4.2 million, surpassing 2019 levels, but are expected to have dipped in September as the holiday season ended. The Macao Government Tourism Office will release updated visitation figures later this month.

Industry observers, however, remain optimistic about October’s outlook. The National Day Golden Week holiday, one of China’s peak travel periods, is anticipated to boost both visitor arrivals and gaming turnover.

The city’s efforts to diversify its entertainment offerings, such as hosting international concerts and sporting events, continue to support tourism-driven revenue. Highlights this month include the upcoming NBA China Games, featuring the Brooklyn Nets and Phoenix Suns, expected to draw additional visitors.

stocks slide ahead of fourth storm in five weeks

The gaming sector faces pressure as the region braces for Tropical Cyclone Matmo, the fourth significant storm in five weeks. Shares of major operators fell on Friday, with Melco Resorts & Entertainment (MLCO) down more than 7%, Las Vegas Sands (LVS) off over 6%, Wynn Resorts (WYNN) down 5%, and MGM Resorts (MGM) declining slightly above 1%.

The storm follows closely on the heels of Super Typhoon Ragasa, which forced Macau casinos to close for 33 hours and caused an estimated MOP 880 million in lost revenue. Ragasa, one of the strongest storms to hit Asia in recent years, also caused 17 deaths in Taiwan.