Macau Casino GGR Falls to 2026 Low in September with Fourth Straight Annual Decline

Macau’s casino gross gaming revenue dropped 1.2% year-on-year in September to MOP18.06 billion (approximately US$2.24 billion). The Gaming Inspection and Coordination Bureau released the data on October 1. This marks the fourth consecutive month of annual declines and the lowest monthly total recorded in 2026.

The result aligned closely with Citigroup’s revised forecast of MOP18 billion. Revenue fell 17.5% from August’s MOP21.89 billion. Visitor arrivals strengthened late in the period, with around 415,000 entrants during the three-day Mid-Autumn Festival holiday from September 25 to 27, a 19.5% year-on-year increase. The traffic gain did not produce GGR growth.

Persistent Year-to-Date Growth Slows

According to Inside Asian Gaming, cumulative GGR for the first nine months reached MOP187.116 billion (around US$23.19 billion). That figure stands 3.2% above the comparable 2025 period, though the pace has eased from 3.7% growth through August. Third-quarter revenue totaled MOP60.21 billion, a 1.3% sequential decline from the second quarter’s MOP61.03 billion. The nine-month total remains 15.1% below 2019 levels.

The Final Quarter Outlook

As reported by World Casino News, the September figures have sharpened analyst caution. CreditSights Inc does not rule out tighter regulatory scrutiny as an ongoing overhang on VIP sentiment. CLSA Ltd stated that risks surrounding a consensus downward revision to Macau-industry earnings have escalated and had already cut its 2027 and 2028 forecasts in mid-September. The International Monetary Fund separately projects that VIP gaming will represent a relatively small share of total GGR over the medium term.

Macau enters the fourth quarter with cumulative growth still positive at 3.2%. The period will determine whether visitation momentum converts into revenue or the current softening trend prevails.

Reporting: World Casino News

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