Macau September Gaming Revenue Drops 1.2% to Lowest This Year
SingTao · 1 SOURCESabout 3 hours ago1 MIN
Summary
Macau's gaming revenue fell 1.2% year-on-year to 18.063 billion patacas in September, the Gaming Inspection and Coordination Bureau reported Thursday. This marked the fourth consecutive month of year-on-year decline and the lowest single-month revenue so far this year, down 17.5% from August. The result fell short of market expectations projecting 2.2% growth.
Key Points
- September gaming revenue totaled 180.63 billion patacas (MOP), declining 1.2% year-on-year and 17.5% month-on-month
- The result missed market consensus expecting 2.2% growth, marking the fourth consecutive monthly decline
- Major banks including Citibank project recovery in October driven by concerts such as Liu Ruoying at Galaxy Arena, ENHYPEN, and NBA China Games
- Morgan Stanley noted strong hotel demand during Mid-Autumn Festival but expects softer Golden Week demand as the two holidays are close together
- On National Day Golden Week's first day, Macau recorded 433,000 passenger movements with tourists exceeding 200,000
Why It Matters
The continued decline underscores pressures facing Macau's gaming sector despite the approach of the crucial October Golden Week holiday. While major international concerts and events may provide a temporary boost, Morgan Stanley suggests the industry may be "near bottom" after a year of downward profit forecast revisions , indicating structural challenges beyond seasonal factors.
The continued decline underscores pressures facing Macau's gaming sector despite the approach of the crucial October Golden Week holiday. While major international concerts and events may provide a temporary boost, Morgan Stanley suggests the industry may be "near bottom" after a year of downward profit forecast revisions , indicating structural challenges beyond seasonal factors.