Macau’s gross gaming revenue is projected to top $2.73 billion in August, marking a 10.5 percent yearly increase, according to Deutsche Bank analyst Steven Pizzella’s latest forecast.
The projection follows July’s strong performance, which delivered nearly $2.77 billion in GGR, representing a 19 percent year-over-year growth and a 5 percent sequential improvement from June. However, the July result remained 9.5 percent below the same month in 2019, showing continued recovery momentum from pre-pandemic levels.
Deutsche Bank’s August forecast incorporates historical seasonal patterns, noting that August typically sees a 2.1 percent month-over-month improvement compared to July’s average daily win rate, based on 2013-2019 data. Applying this historical trend to current performance levels suggests potential for even stronger growth, with the bank indicating that August could achieve approximately 14.5 percent year-over-year improvement.
The July GGR result exceeded market expectations, with the 19 percent year-over-year increase surpassing recent analyst estimates which were in the 12-16 percent range. The Consensus Metrix forecast had projected a more modest 9.5 percent increase for July.
Deutsche Bank has also updated its broader forecasts for Macau’s gaming market, projecting third quarter 2025 GGR of $7.8 billion, up 12.3 percent year-over-year. For the full year 2025, the investment bank expects $30.3 billion in total GGR, representing 6.7 percent annual growth, followed by $31.3 billion in 2026, a 3.5 percent increase.
