Macau Sets Another Post-Pandemic Profit Peak in August

Year-to-Date Trends

Macau’s stats remain even more vivid in the cumulative data and against official targets. From January to August, total GGR reached about $20.3 billion, which is a rise of 7.2% on the same stretch last year and more than 82% of the 2019 baseline.

Key numbers of the year:

• The original 2025 government estimates expected roughly $2.49 billion per month or $29.93 billion for the year, and later dropped to $2.37 billion monthly or $28.44 billion annually.
• August outpaced the revised bar and lifted the 2025 per-month average to $2.54 billion, a touch ahead of the initial higher forecast.
• Summer travel filled hotels to around 90% and fuelled gaming volumes, though seasonality usually cools in September.

Analyst Readouts and Global Context

Major banks framed the summer as strong and projected that double-digit GGR growth is likely to persist at least into the first quarter of 2026. The second half of 2025 is expected to expand by around 15% year-on-year, which might be thanks to the elevated casino demand and the return of dividends as signs of healthier balance sheets.

Observers at JP Morgan also stressed that August’s take was the best outside peak holidays, which underscores the depth of everyday tourism and the mass segment. This is true despite share prices being below pre-pandemic levels.

Nevada booked $1.36 billion in July 2025, which is up 4% year-on-year. Meanwhile, Clark County accounted for $1.2 billion (Strip baccarat became the biggest gainer, up 79% to $114.5 million), yet still well short of Macau’s monthly run rate.

After a weak January, Macau’s 2025 path firmed through spring with double-digit lifts in June and July. August further cemented a sturdy mid-year trend despite wider economic headwinds.

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