Macau staged an unexpectedly strong rebound over the past week, with gross gaming revenue reaching MOP$743 million (US$92.9 million) per day – 25% higher than the prior week’s MOP$593 million (US$74.1 million) per day according to investment bank JP Morgan.
Based on channel checks, it is estimated that GGR for the first 19 days of October combined reached almost MOP$14.9 billion (US$1.86 billion), suggesting a delayed post-Golden Week tail.
“We continue to think the weak Golden Week performance was a blip rather than a trend, probably due to the typhoon and the timing of the mid-autumn festival, as well as F1 Singapore, all happening during the Golden Week holiday,” said analysts DS Kim, Selina Li and Lindsey Qian.
They added that their recently adjusted forecast of October GGR growing by between 3% and 6% “probably carries upside risks now given such a strong (and unexpected) rebound last week”, as do 4Q25 gaming revenues, currently tipped to grow 10% versus the same time last year.
“In any event, recall that easy comps kick in from December, where we expect mid-teens growth in GGR,” JP Morgan stated.
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