Macau gaming revenue tracks below expectations in October

Investing.com -- Macau's gaming revenue in October is tracking toward a 6% to 10% year-over-year decline, falling short of market expectations for roughly flat growth, according to checks by Jefferies.

The projection comes against a challenging comparison of 16% growth in the same period last year. Market estimates on Bloomberg had anticipated flat year-over-year change for October 2026.

For the seven days ending on Saturday, Macau's gross gaming revenue averaged about MOP729 million per day, down 6% year-over-year but up 21% compared to September's average daily rate. Month-to-date mass and VIP gaming increased 35% to 38% and 40% to 45% month-over-month, respectively.

Industry sources estimate gaming revenue ranging at MOP620 million to MOP670 million for the rest of the month, implying MOP21.6 billion to MOP22.6 billion for the full month.

Macau recorded 1.14 million visitor arrivals during the seven-day National Golden Week holiday, up 15.5% year-over-year, while hotel occupancy remained above 90%. Sands China supported visitation through the NBA China Games on Thursday and Saturday at The Venetian Macao.

During a media briefing on Saturday, Macau Chief Executive Sam Hou Fai addressed concerns over four consecutive months of year-over-year gross gaming revenue declines. Sam said officials are assessing whether the slowdown stems from near-term macro headwinds or signals that Macau's post-pandemic gaming recovery has reached a more mature phase.

Jefferies said it continues to favor Wynn and Galaxy based on their premium-focused customer mix.

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