Macau Eyes Strong Gaming Growth in 2025

Published on 2 January 2025

After a solid recovery year in 2024, Macau’s gaming industry is set for a promising 2025. The Chinese New Year holiday is expected to generate $5 billion in gross gaming revenue (GGR), a 6% year-over-year increase, according to Citigroup. South Korea’s Mohegan INSPIRE also reported strong growth, earning $163 million in net revenue during its fourth fiscal quarter.

Macau’s Performance in 2024

In December, Macau recorded MOP18.20 billion ($2.28 billion) in GGR, down 1.3% from November and 2% lower than December 2023. The dip was partially due to disruptions caused by Chinese President Xi Jinping’s visit.

For the year, GGR reached MOP226.78 billion ($28.39 billion), a 23.9% increase over 2023 but still below the pre-pandemic 2019 level of MOP292.45 billion ($36.7 billion). Visitor arrivals neared 35 million, exceeding projections.

Recovery and Future Outlook

The lifting of travel restrictions in early 2023 fueled Macau’s recovery, with operators focusing on mass-market growth and reducing reliance on junkets. The government’s GGR projection of MOP216 billion ($27.07 billion) was surpassed, and 2025 is forecasted to reach MOP240 billion ($30.1 billion).

As Macau continues its rebound, strong visitor numbers and strategic industry shifts position the city for sustained growth in 2025.