Macau’s gaming revenue rose 24% year-on-year in January, beating market expectations as casinos leaned heavily on concerts and branded entertainment to attract high-spending customers.
Gross gaming revenue reached MOP22.6 billion ($2.8 billion) last month, data from the Gaming Inspection and Coordination Bureau (DICJ) showed. The result exceeded the median analyst forecast for an 18.5% increase and marked a recovery to 91% of pre-pandemic 2019 levels.
Casinos in the world’s largest gambling hub have increasingly turned to entertainment-led marketing to revive demand, offering perks such as free concert tickets and themed collaborations as they compete for premium and mass-market customers.
Spending by higher-end players strengthened in January, with premium gamblers increasing wagers by 25% from a year earlier, according to a monthly survey by Citigroup.
The surge was likely a result of aggressive marketing, Citi analyst George Choi wrote, citing incentives including free tickets to concerts by Blackpink in Hong Kong and a collaboration with Pop Mart International Group Ltd.’s Twinkle Twinkle brand.
Visitor arrivals have also rebounded strongly. Macau recorded 3.58 million visitors in December, 16% above pre-pandemic levels, with January figures due later this month.
While a broader range of non-gaming attractions has helped boost mass-market footfall – a segment seen as crucial to offset a structurally weaker VIP business – rising costs are squeezing margins.
Sands China Ltd. reported its lowest profit margin since the COVID pandemic in the fourth quarter, with management attributing the decline to higher operating expenses incurred while competing more aggressively for mass-market customers.
Macau casino stocks have lagged the broader market despite the revenue beat. The Bloomberg Intelligence Macau casino operators index fell 6.1% in January, compared with a 6.9% rise in Hong Kong’s Hang Seng Index, according to its latest update.
Original article: https://www.yogonet.com/international/news/2026/02/02/117394-macau-gaming-revenue-beats-estimates-as-entertainment-perks-draw-premium-players
