Macau’s VIP baccarat segment delivered a standout performance in the third quarter of 2025, with gross gaming revenue (GGR) climbing by 29.1% year-on-year to MOP 16.9 billion (≈ US$2.11 billion). Sequentially, VIP GGR also nudged higher by 3.4%. Meanwhile, the mass-market segment advanced more modestly—rising 7.1% year-on-year and 2.6% quarter-on-quarter to MOP 36.5 billion. This dual growth contributed to a total industry GGR of MOP 62.7 billion, up 12.5% year-on-year and 2.4% from Q2.
Macau’s casino resorts are scheduled to host over 60 shows during the fourth quarter (October–December) of 2025, according to GGRAsia’s tally. This marks a notable decline from the nearly 100 offerings staged across Macau properties in the third quarter—reflecting both scheduling pullbacks and shifts in priority amid major national events.
Galaxy Entertainment Group (GEG) has just renewed a three-year strategic cooperation agreement with Damai Entertainment (an Alibaba-affiliated ticketing and live-events arm) and Macau Pass to further deepen their collaboration in ticketing, marketing, and cultural programming in Macau. Under the renewed deal, the partners will co-host a variety of events — from concerts, musicals, stage plays, immersive theatre, exhibitions to sporting events — and they intend to integrate membership systems and bolster hardware and software infrastructure for ticketing systems.
Hong Kong’s Legislative Council has passed a landmark bill mandating that ride-hailing platforms, vehicles, and drivers must all obtain licenses or permits before operating. Under the new framework, vehicles must be registered to individual owners, insured for third-party risk, and conform to age and inspection requirements, while drivers must be at least 21, hold a private car license for a minimum of one year, and have no serious traffic violations in the past five years. The government now plans to flesh out subsidiary legislation in early 2026, aiming for licensed ride-hailing services to begin in the fourth quarter of that year.
Macau’s gaming industry is on track for a solid third quarter in 2025 as Citigroup projects a 7 percent year-on-year increase in EBITDA, reaching around USD 2.07 billion, underpinned by resilient demand in the mass-market segment despite disruptions from Typhoon Ragasa. Gross gaming revenue (GGR) is similarly forecast to rise 12.5 percent YoY to MOP 62.57 billion (≈ USD 7.78 billion), which would mark the highest quarterly revenue since Macau’s post-COVID reopening. That said, margin pressures are expected: the storm forced a 33-hour shutdown of casino operations and elevated wage costs, shrinking EBITDA margin by an estimated 80 basis points to around 26.6 percent (versus 27.4 percent a year ago).
Author: Janice Chew • Friday, 17/10/2025
