Macau October GGR falls 10% to MOP21.68 billion in fifth straight monthly decline

Macau’s six casino concessionaires generated gross gaming revenue (GGR) of MOP21.68 billion (US$2.68 billion) in October 2026, the city’s gaming regulator reported on Sunday (Nov. 1). That marked a 10% decline, or $298 million, from October 2025. It was the fifth consecutive month of year-over-year decline, despite heavy visitor traffic driven by Golden Week and the NBA China Games.

Year-to-date GGR remains up 1.6%. Sands, Galaxy, Wynn, MGM, Melco and SJM have collectively won more than $25.87 billion through the first 10 months of the year. Across Macau’s 20 casinos, SJM and Sands each operate five properties, Galaxy and Melco run three apiece, and Wynn and MGM operate two each. Together, the casinos host approximately 6,000 table games and 12,000 slot machines.

Tough comparison

October 2025 delivered $2.98 billion in GGR, the highest monthly tally of that year. Analysts had broadly forecast a 7% year-over-year contraction. According to Casino.org, the 10% decline reflected soft premium mass and VIP play amid ongoing economic headwinds on the mainland. Sands once again hosted the NBA China games at The Venetian Arena on the Cotai Strip, with two pre-season games between the Houston Rockets and Dallas Mavericks.

Analyst outlook

Seaport Research Partners analyst Vitaly Umansky is not anticipating an immediate November rebound. Umansky projects GGR to fall 6.1% year-over-year in November, bringing the monthly win to roughly $2.45 billion. He noted that a slumping stock market and heightened tax scrutiny surrounding offshore trusts owned by high-net-worth individuals will likely keep high-end VIP play subdued. Long-term, Umansky remains bullish on the market, attributing the current five-month slowdown to a K-shaped recovery and temporary tax concerns.