Macau’s gross gaming revenue (GGR) rose 14.4 percent year on year in November to MOP210.9 billion, maintaining solid momentum despite the month being traditionally quiet.
According to data from the Gaming Inspection and Coordination Bureau (DICJ), cumulative GGR for the first 11 months reached MOP226.5 billion, an 8.6 percent increase compared with the same period last year.
The month began strongly for casino operators, but gaming performance stabilised from mid-November as major events — including the National Games and the Macau Grand Prix — drew large visitor flows and broadened entertainment options beyond casino floors.
Investment banks noted that although growth moderated slightly, the sector’s fundamentals remain well supported. Since May, gaming revenue has shown consistent strength, driven by stable demand from the premium-mass segment and early signs of recovery among mass-market players.
Citigroup said in a recent research report that large-scale concerts are emerging as a potential long-term driver of Macau’s gaming revenue. Analysts said operators that expand their entertainment calendars more aggressively are well positioned to convert concert-goers into high-value gamblers, enhancing both market share and profitability. The report highlighted Galaxy Entertainment Group and Sands China as the operators most likely to benefit, as both run multipurpose arenas with more than 15,000 seats.
According to Citigroup, these venue advantages allow operators to offer prime seats to top-tier VIP customers at no additional cost, though such arrangements typically require a degree of cash commitment from players — a practice that can further boost revenue.
