Macau’s gaming sector is swinging back into gear with remarkable strength. For the first 24 days of August 2025, its gross gaming revenue (GGR) reached approximately MOP 17.65 billion (around US $2.2 billion), averaging about MOP 735 million (US $91.9 million) per day. As reported by JP Morgan, last week’s daily run-rate surged 9% week-over-week to MOP 793 million (US $99.1 million), compared to MOP 710 million earlier in the month—and even eclipsing July’s average of MOP 714 million. This marks the most robust non‑Golden Week performance since the pandemic struck.

Momentum Fueled by Summer Visitation and Entertainment Pull

The uptick isn't happening in a vacuum; Macau’s breakout performance this August stems largely from a spike in summer tourist traffic. Citigroup credits part of the success to carefully curated non‑gaming attractions—particularly a high‑profile weekend event, the Tencent Music Awards, held at Galaxy Arena. Featuring acts like (G)I‑DLE, TWICE, Zhou Shen, and Jane Zhang, the concert apparently helped boost foot traffic and gaming activity.

Both VIP and Mass Markets Drive Growth—But Mass Leads the Charge

Delving into performance by segment, both VIP and mass‑market gaming posted solid year-on-year gains of 10–15%, bringing them to roughly 30% and 125% of pre‑COVID‑19 levels, respectively. While the VIP segment held steady month-on-month, mass-market revenue climbed between 4–6%. Notably, VIP hold rates also improved, settling between 3.3% and 3.6%, painting a healthy picture across the board. 

Analysts Optimistic: Post-Pandemic Records in Sight

Looking ahead, investment banks remain upbeat. JP Morgan predicts sustained, double‑digit GGR growth through at least Q1 2026, which could attract long‑term investors and strengthen sector valuations. Meanwhile, Citi has raised its August GGR forecast to MOP 22.5 billion (US $2.81 billion)—a leap to 93% of August 2019 levels and a solid 14% year-on-year increase.