Macau Casino Revenue Rises 6.7% in May to $2.8 Billion, Best May Result Since Pre-Pandemic 2019

Macau’s gross gaming revenue rose 6.7% from a year earlier in May 2026 to MOP 22.61 billion, equivalent to approximately $2.80 billion, according to data released Monday by the Gaming Inspection and Coordination Bureau. The result beat market expectations of around 5% growth and represented the best May GGR figure recorded since 2019, prior to the COVID-19 pandemic. The May performance also marked a month-over-month improvement of 13.6% compared to April’s MOP 19.9 billion.

The strong result was supported by elevated visitor arrivals during China’s Labour Day holiday period in early May, which drives significant visitation to Macau from mainland China and other parts of Asia. The figures bring cumulative gross gaming revenue for the first five months of 2026 to MOP 108.4 billion, equivalent to approximately $13.4 billion, an increase of 10.9% compared to the same period a year earlier. The steady accumulation of year-to-date gains reinforces the narrative of a sustained recovery for Macau’s gaming sector following the severe disruptions of the pandemic years.

Recovery Trajectory Remains on Track

Macau’s gaming industry generated MOP 65.87 billion in gross gaming revenue during the first quarter of 2026 alone, a figure representing a 14.3% year-over-year increase. The six publicly traded casino concessionaires operating in the territory, which include MGM China, Wynn Macau, Sands China, Galaxy Entertainment, Melco Resorts, and SJM Holdings, all saw their shares trade higher following the release of the May figures. Macau’s gaming market remains the largest in the world by revenue and is a critical profit center for the parent companies of several major Las Vegas-based operators.

The performance is also notable in the context of ongoing M&A activity in the global casino sector. People Inc., the rebranded version of Barry Diller’s IAC, submitted an $18 billion bid for MGM Resorts International on June 2, partly citing MGM’s long-term exposure to its Macau operations and its Japan development project as factors that give the company a deeper growth runway than its current public market valuation reflects. Separately, analysts have been watching MGM China and other Macau-listed operators as potential standalone targets or M&A variables as the broader consolidation wave plays out.

Visitor Trends and Outlook

Visitor arrivals to Macau have been recovering steadily as China’s outbound tourism market has normalized following pandemic-era restrictions. The Labour Day golden week, one of China’s major national holidays, consistently drives one of the strongest monthly GGR periods of the year. Analysts are now watching June and the summer months to assess whether the momentum can be sustained without a major holiday catalyst. The World Cup tourism wave, which begins June 11 in North America, is not expected to materially impact Macau visitor flows but could divert some attention from the territory among international sports bettors who may redirect recreational spending toward World Cup wagering. Overall, Macau’s year-to-date performance suggests the market remains on pace for a record year in the post-pandemic era.