Macau Casino Slump Continues Despite Boost From Golden Week and NBA China Games

Macau casino revenue remained sluggish in October, marking the region’s fifth consecutive month of year-over-year decline. An aerial photograph of Galaxy Macau on the Cotai Strip. Macau casino revenue was 10% lower in October 2026, marking the Chinese gambling hub’s fifth straight monthly loss. Analysts aren’t expecting a quick turnaround, but remain optimistic long term. (Image: Shutterstock) The city’s gaming regulator reported on Sunday (Nov. 1) that the six casino operators generated gross gaming revenue (GGR) of MOP21.68 billion (US$2.68 billion) in October 2026. That marked a 10% decline, or $298 million, from October 2025. Despite the five-month losing streak, through 10 months, GGR in the world’s richest gambling market remains up 1.6%. Sands, Galaxy, Wynn, MGM, Melco, and SJM collectively won more than $25.87 billion from gamblers. There are 20 casinos throughout the Chinese Special Administrative Region. SJM and Sands each operate five, Galaxy and Melco each run three, and Wynn and MGM operate two each. The Macau casinos jointly run 6,000 table games and 12,000 slot machines. (Image: DICJ) Golden Week Lacks Luster October benefits each year from the seven-day national public holiday that commemorates the founding of the People’s Republic of China on Oct. 1, 1949. Most workers are given the Oct. 1-7 period off, with many mainlanders opting to travel to Macau for their holidays. 2026 Golden Week faced a difficult comparison, as October 2025 saw GGR reach $2.98 billion, the highest monthly tally in all of 2025. Gaming executives had hoped October 2026 would also see a rush of play from the mass and premium mass markets, though the general consensus among analysts was a forecasted 7% year-over-year decline. GGR fell short, with the 10% decline suggesting soft premium mass and VIP revenues spurred by ongoing economic headwinds. Sands tried to lure mass market visitation by once again hosting the NBA China games at The Venetian Arena on the Cotai Strip, with two pre-season games between the Houston Rockets and Dallas Mavericks. Sands and the Mavericks are owned by billionaire Dr. Miriam Adelson and her son-in-law, Sands Chairman and CEO Patrick Dumont. Weakening consumer sentiment in mainland China is taking a toll on Macau’s gaming sector. Following a May 2026 drop in Chinese retail sales, which was the first in more than three years, spending remains constrained by rising energy costs linked to the war in Iran and lingering U.S. tariff threats. Analyst: No November Turnaround Seaport Research Partners analyst Vitaly Umansky isn’t betting on a November GGR rebound. Umansky projects GGR to tumble 6.1% from November 2025, suggesting a win of around $2.45 billion. Umansky said weaker Chinese macroeconomic conditions, including a falling stock market and a stricter tax enforcement scheme surrounding offshore trusts owned by high-net-worth individuals, will keep some VIP play away. Long-term, however, Umansky remains bullish on Macau. Umansky attributes the five-month slowdown to a K-shaped economy and the tax-related concerns. But with valuations for the publicly traded casino companies “fairly low”, Umansky thinks investors willing to take on China-related risk over an extended period could see upside. The post Macau Casino Slump Continues Despite Boost From Golden Week and NBA China Games appeared first on Casino.org.