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Citi: Macau GGR continues to show strength as “black rain” event fails to keep players away through first half of August

Ben Blaschke by Ben Blaschke
Mon 18 Aug 2025 at 16:16
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Macau’s gross gaming revenues are estimated to have grown 4% week-on-week in the seven days to 17 August 2025, implying a daily run-rate of MOP$729 million (US$90.4 million) and continuing the city’s impressive growth spurt.

According to sources cited by Citigroup, the past week’s run-rate is 4% higher than the daily run-rate of MOP$700 million (US$86.8 million) through the first 10 days of the month and also 14% higher than the August 2024 average of MOP$637 million (US$79.0 million).

This is despite a “black” rain event in Macau last week that saw multiple roads flooded and videos circulating on social media showing a major Cotai IR leaking streams of water onto its gaming floor.

This, Citi said, “attests to players’ passion to gaming”.

The past week’s numbers were, Citi analysts George Choi and Timothy Chau explained, due to higher mass gaming volumes and an improved VIP hold rate.

As such, Citi has moderately raised its August GGR forecast from MOP$21.50 billion (US$2.67 billion) to MOP$21.75 billion (US$2.70 billion), representing a 10% year-on-year improvement over the same month last year and implying GGR to average MOP$689 million (US$85.5 million) per day for the rest of the month.

Macau GGR has sparked to life in recent months, booking three consecutive months of strong beats including 19% year-on-year increases in both June and July.

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Ben Blaschke

Ben Blaschke

A former sports journalist in Sydney, Australia, Ben has been Managing Editor of Inside Asian Gaming since early 2016. He played a leading role in developing and launching IAG Breakfast Briefing in April 2017 and oversees as well as being a key contributor to all of IAG’s editorial pursuits.

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