Macau Lost 42% of Its 2026 GGR Lead in October

The Gaming Inspection and Coordination Bureau (DICJ) released its October figures on November 1. Gross gaming revenue (GGR) came to MOP21.68 billion (about $2.68 billion at the November 1 exchange rate), down 10% year-on-year.

September’s GGR was lower, at MOP18.06 billion (about $2.24 billion). October brought a 20% monthly increase, helped by the National Day Golden Week holiday. But the annual comparison went the other way.

October Took Away MOP2.4 Billion

The change is clearer in the cumulative figures.

Period

2025

2026

Difference

Jan-Sep

181.341

187.116

+5.775

October

24.086

21.680

−2.406

Jan-Oct

205.427

208.796

+3.369

Figures in MOP billions. The 41.7% loss is a 15M calculation: October’s MOP2.406 billion shortfall divided by the MOP5.775 billion lead at the end of September.

That left Macau just 1.6% ahead of 2025 after ten months. At the end of September, the figure had still been 3.2%.

October was also the fifth straight month of negative annual GGR growth. Earlier in the year, 15M covered a Seaport forecast that put full-year growth at around 7%.

The Extra Day in October

There is another difference between September and October. September had 30 days, October 31. Daily GGR averaged MOP602 million in September and MOP699 million in October. On that basis, the increase was about 16%, not 20%.

Operators comparing monthly trading figures need to account for the extra day. For affiliates covering Macau casino resorts, the DICJ figures are a measure of casino revenue, not online registrations or deposits.

Macau now needs approximately MOP38.6 billion (about $4.78 billion) from November and December combined to finish 2026 above last year’s GGR total. That works out to about MOP19.3 billion per month.

The government’s own MOP236 billion target is lower. Reaching it would require just MOP27.2 billion over the same period.