Macau’s casino industry generated MOP21.89 billion (US$2.71 billion) in gross gaming revenue (GGR) during August, according to figures released by the city’s Gaming Inspection and Coordination Bureau (DICJ). The result represented a 1.2% decline from August 2025, although revenue improved considerably from the previous month.

August GGR increased 8.1% compared with July’s MOP20.26 billion. July’s performance had been affected by the 2026 FIFA World Cup, which ran in North America from June 11 through July 19. Some investment analysts had previously suggested that the tournament could have delayed casino trips among certain gamblers.

Despite the year-on-year decline in August, Macau maintained positive growth for the year to date. Casino GGR for the first eight months reached MOP169.053 billion (US$20.95 billion), compared with MOP163.052 billion during the same period in 2025. That represents a 3.7% increase.

The cumulative figure remains below the market level recorded before the pandemic. Revenue for the first eight months of 2019 reached MOP198.218 billion (US$24.56 billion), leaving the 2026 figure 14.7% lower. August itself also remained 9.8% below the MOP24.262 billion (US$3.01 billion) generated during the corresponding month in 2019.

August Revenue Recovers From July

The August improvement followed a weaker July result and coincided with expectations of stronger activity following the football tournament. Citigroup had previously reported an improved start to August, attributing the increase to stronger VIP volume and hold.

The investment bank had also pointed to major concerts as a factor supporting premium visitation. Performances scheduled at Galaxy Arena and Venetian Arena were among the events expected to contribute to casino activity during the period.

Citigroup subsequently lowered its August GGR forecast in a late-August research note. The bank reduced its estimate from MOP23 billion (US$2.85 billion) to MOP22.5 billion (US$2.79 billion), which would have represented approximately 2% year-on-year growth. The revised projection still exceeded the final result of MOP21.89 billion.

The forecast had incorporated several major entertainment events, including appearances by i-dle and Louis Koo, along with FNC Band Kingdom 2026. These events were scheduled across Galaxy Arena, The Londoner Arena and The Venetian Arena.

Premium Players Show Higher Spending

While the number of high-value players was slightly lower year-on-year, Citigroup reported that premium mass customers were spending more during August.

The bank’s survey of high-stakes table play recorded 31 so-called whales. Citigroup stated: “The 31 whales we ran into… wagered an average of HKD244,000 per hand, up a whopping 54 percent versus August 2025.”

The observation provides an indication of stronger spending among some high-stakes customers even as overall casino revenue remained below the previous year’s August level.

The World Cup also featured in the industry discussion surrounding Macau’s summer performance. Seaport Research Partners said in a mid-August note, citing comments from casino executives at the 2026 Seaport Annual Summer Conference, that Melco Resorts & Entertainment Ltd did “not believe there is an element of pent-up demand from customers who skipped Macau during the World Cup”.

That assessment differed from earlier expectations among some analysts that the football tournament had encouraged gamblers to postpone Macau visits until after the event.

According to GGRAsia, August’s MOP21.89 billion was also below Citigroup’s revised estimate, which had anticipated MOP22.5 billion. The final result therefore reflected slower revenue growth than the bank had expected despite improved activity from July.

The DICJ data provide the latest official measure of Macau’s casino performance through August. The figures show a market that continues to post year-on-year growth over the broader 2026 period while individual monthly results remain subject to changes in visitation and player spending.