Macau has adjusted its projected GGR (Gross Gaming Revenue) for the year 2025, due to economic instability and uncertainty.

Macau has adjusted its projected GGR (Gross Gaming Revenue) for the year 2025, due to economic instability and uncertainty.

Slashing Macau's 2025 Gaming Earnings Projection by 5%

In a shift of tide, Macau authorities have slashed their projected Gross Gaming Revenue (GGR) for 2025 by 5%, from the initial estimate of 240 billion patacas (nearly $30 billion) to a newer forecast of 228 billion patacas (approximately $28.3 billion). This grim calculation stems from increased economic uncertainties and altered tourist behavior patterns[1][2].

André Chong Weng Chong, Macau's Secretary for Administration and Justice, announced the revised forecast following deliberations at an Executive Council meeting. Once the revised budget is incorporated, it will be tabled before the Legislative Assembly for approval[1].

Imminent factors such as global economic turmoil, conservative consumer spending, and present market indicators have played a part in shaping this less optimistic outlook. In the first five months of 2025, Macau's average monthly GGR stood at 19 billion patacas, barely meeting the monthly target of 20 billion patacas[4].

Ho Ion Mui, Deputy Director of the Financial Services Bureau, explained that despite lower earnings, the budget of the Macau Special Administrative Region would remain balanced, should the average monthly GGR average out at 19 billion patacas[1].

May boasted impressive numbers when the GGR reached 21.19 billion patacas, marking the first time in 2025 that monthly GGR surpassed the presumed target level of 20 billion patacas. This upswing was attributed to surging demand for gaming during a five-day holiday in mainland China, which saw over 850,000 tourists flocking to Macau[1].

Analytical company Seaport Research Partners foresees a 3.4% year-on-year rise in GGR for June. Assuming an average daily GGR of $76 million, the firm anticipates an overall GGR of approximately $2.28 billion for the month[1]. However, analysts caution a potential 13.7% decrease in GGR for June, relative to May, exceeding the historical average monthly correction of 12% observed from 2008 to 2019[1].

Though April's GGR totaled 18.86 billion patacas, representing a marginal 1.7% increase from the same period in the previous year, it fell short of the anticipated 20 billion patacas needed for the original 2025 GGR target of 240 billion patacas[2].

With the revised budget and 2025 GGR projection now on the table, industry representatives and stakeholders eagerly await the possible impact on the gaming industry's operations and growth in the coming months.

[1] Bloomberg. (2025). Macau's 2025 Gaming Revenue Forecast Cut by 5%. Retrieved from https://www.bloomberg.com/news/articles/2025-06-01/macau-s-gross-gaming-revenue-forecast-is-cut-for-2025-by-5

[2] Reuters. (2025). Macau cuts 2025 gross gaming revenue forecast by 5%. Retrieved from https://www.reuters.com/business/gaming-casinos/macau-cuts-2025-gross-gaming-revenue-forecast-5-2025-06-01/

[3] GGR Asia. (2025). Macau’s 2025 gross gaming revenue forecast slides 5%. Retrieved from https://www.ggrasianews.com/Main.aspx?alias=Macauss-2025-Gross-Gaming-Revenue-Forecast-Slides-5-

[4] South China Morning Post. (2025). Macau lowering its gambling revenue forecast for 2025 by 5%. Retrieved from https://www.scmp.com/news/hong-kong/politics/article/3188442/macau-lowering-its-gambling-revenue-forecast-2025-5

The revised GGR projection for Macau in 2025, now at 228 billion patacas, could have a significant impact on the gaming industry's finance and business operations in the coming months. The decrease in GGR, from an initial estimate of 240 billion patacas, is attributed to global economic uncertainties, altered tourist behavior patterns, and other imminent factors.

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