Macao casino GGR falls 10.0% y/y in October to US$2.68bn
DICJ reports MOP21.68bn; ten-month total up 1.6% to MOP208.80bn
Key Takeaways
- Macao GGR fell 10.0% year-on-year in October to MOP21.68 billion (US$2.68 billion).
- October rose 20.0% month-on-month from September’s just-over MOP18.06 billion.
- First ten months of 2026 totalled MOP208.80 billion, up 1.6% year-on-year.
- The government’s 2026 GGR target is MOP236 billion; CreditSights says achieving it requires MOP16.3 billion monthly in Q4.
Gross gaming revenue (GGR) for Macao casinos fell 10.0% year-on-year in October, totaling MOP21.68 billion (US$2.68 billion), according to data published on Sunday by the [Gaming Inspection and Coordination Bureau (DICJ)](/regulation). It was the fifth consecutive month of annual declines and the second-largest annual drop recorded in 2026.
Monthly movement and seasonal context
Despite the annual decline, October GGR rose 20.0% month-on-month versus the just-over MOP18.06 billion in September. The month included the [Golden Week](/events) in mainland China, traditionally a peak for tourist demand in Macao, and the period’s performance was seen as crucial by the government.
Projections and analysts' comments
Cumulative GGR for the first ten months of 2026 reached MOP208.80 billion, an annual improvement of 1.6%. On 10 October, Macao Chief Executive Sam Hou Fai said October’s performance would be decisive for reaching the government target of MOP236 billion for 2026.
China International Capital Corporation Hong Kong Securities Ltd (CICC) wrote on 17 October that there is “no clear near-term inflection point” in GGR or sector profitability, and warned investors may have underappreciated weakness in gaming demand; [CICC](/b2b) added that consensus for October was “challenging”. UBS said in a memo the analyst consensus for October was “challenging”, citing a fall in the daily GGR pace from around MOP1.0 billion in the first four days of Golden Week.
CreditSights said Macao could still reach the government’s MOP236 billion target for 2026, but that would require an average of MOP16.3 billion per month in the fourth quarter.
“No clear near-term inflection point,” CICC wrote on 17 October, referring to sector volume and profitability, in its note.
Frequently Asked Questions
How much did Macao GGR fall in October 2026?
Macao GGR fell 10.0% year-on-year in October 2026 to MOP21.68 billion, equivalent to US$2.68 billion, according to the Gaming Inspection and Coordination Bureau.
How did GGR change month-on-month in October versus September?
October GGR rose 20.0% month-on-month compared with September, which recorded just over MOP18.06 billion.
What is the government target for Macao GGR in 2026 and is it at risk?
The government target for 2026 is MOP236 billion. After ten months the cumulative total is MOP208.80 billion; CreditSights calculates an average of MOP16.3 billion per month would be needed in Q4 to reach the target.
What do analysts say about a turning point in GGR recovery?
CICC said on 17 October there is no clear near-term inflection point in GGR or sector profitability, and UBS described the analyst consensus for October as "challenging," noting a slowdown in daily GGR during Golden Week.
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Emilio Navarro
Industry Technology Correspondent
Emilio Navarro covers the cross-cutting technology and business of iGaming — platforms, data and AI, compliance tooling, affiliate marketing, financial results, and the stories that fit no single rubric. The reports open with the announcement, cite vendors and figures exactly as published, and keep a healthy distance from press-release language. When a supplier unveils a new engine or the advertising rulebook changes, Emilio Navarro reports what genuinely changes.
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