The draw of Macau appears to be remaining strong despite the global headwinds caused by ongoing tensions in the Middle East.
The city’s Gaming Inspection and Coordination Bureau reported gross gaming revenue of MOP 22.6bn for May, a 6.7% increase compared to the same month in 2025.
Meanwhile, total GGR for the year now sits at MOP 108.4bn, a 10.9% increase YoY compared to this time last year.
Results were boosted by mainland China’s Labor Day celebrations, which took place between 1 May and 5 May, and May also marked the third month so far in 2026 where GGR has peaked over MOP 22bn.
Coupled with strong spending, Macau has also seen an increase in visitor numbers, as the Statistics and Census Service recorded an 11.3% YoY increase in visitor arrivals in April.
Positive momentum in Macau contrasts with its Southeast Asian neighbour, the Philippines, after the country’s regulator reported first-quarter results impacted by geopolitical tensions.
Alejandro Tengco, the Chair and Chief Executive Officer of the Philippine Amusement and Gaming Corporation (PAGCOR), described ‘softer discretionary spending’ among players as revenue fell by 15.87% YoY to P104.12bn (£1.26bn) in Q1.
Tengco warned, while speaking at the Manila After Dark event in April, that even established markets will feel the impact of the oil crisis, sparked by conflict between the US, Israel and Iran.
He said: “This is not a good time for everyone. Gaming jurisdictions globally are feeling the impact of the oil crisis, and even more progressive countries like Singapore, Macau, and the United States are not spared.”
In recognition of the issues potentially facing travellers, Macau’s Government Tourism Office is currently weighing covering transport costs from the Guangzhou Baiyun International Airport to Macau.
Macau has a similar scheme already in place for visitors who land at the Hong Kong International Airport. However, officials said in April that the incentive is under consideration due to a reduction in flights from the Middle East and Europe to Hong Kong resulting from the ongoing war in Iran.
Speaking at the Macau International Travel Industry Expo, Macau’s Secretary for Economy and Finance, Tai Kin Ip, said: “The MSAR Government will continue to diversify its range of tourism products, organise major events, improve supporting infrastructure, and strengthen publicity and promotion.”
Positive results through the first five months of the year continue a strong end to 2025 for Macau, which saw gaming revenue surge in the second half of the year.
The city reported full-year gross gaming revenue (GGR) of $30.8bn, up 9.1% from 2024 and beyond the government’s target of $29.9bn.
There will be optimism from Macau that it can continue this momentum throughout 2026, despite geopolitical tensions showing no signs of slowing. If this is the case, it would cement the region’s return to strength as the city’s performance continues to recover to levels observed prior to the Covid-19 pandemic.
