Cantopop superstar Jacky Cheung’s concert series has emerged as a driving force behind Macau’s unexpectedly strong gaming performance in June 2025, defying the territory’s typical seasonal downturn, according to a new report from Citigroup.
Analysts George Choi and Timothy Chau’s latest table survey, conducted on the opening night of Cheung’s nine-show run from mid-June to early July at Galaxy Arena, revealed significant improvements across key gaming metrics. Citigroup attributes the positive findings directly to the concert series, noting that Galaxy Macau experienced a ‘significant improvement in foot traffic’ by hosting the performances.
The impact was most pronounced in premium mass gaming, where total wagers surged 58 percent year-on-year to HK$15.8 million ($2.03 million) so far during June 2025. The number of premium mass players increased 16 percent compared to June 2024, reaching 629 players, while average wager per player climbed 36 percent to HK$25,130 ($3,227).
Additionally, June’s average wager per player was only 12 percent lower than May 2025, which benefited from Labor Day holidays, and just 4 percent below Chinese New Year 2025 levels. This performance ‘bucked seasonal trends’ as June is typically Macau’s slowest gaming month.
The ‘whale’ segment (players betting HK$100,000 or more) also showed remarkable strength, with 35 high-roller players observed compared to 16 in June 2024. These players wagered a combined HK$7.6 million ($976,000), representing a 128 percent increase from the HK$3.3 million ($424,000) recorded in the same period last year.
Galaxy leads while competitors benefit
Galaxy maintained its leadership position in premium mass gaming with a 25 percent share, though this represented a decline from previous periods. Meanwhile, Wynn appears to be gaining share in premium mass gaming, recording a 35 percent share compared to 24 percent in June 2024.
The concert’s benefits extended beyond Galaxy, as Citigroup noted that other operators are also capitalizing on the increased visitor traffic. Some casino operators have purchased concert tickets as complimentary gifts for their Grade-A players, creating a ripple effect across the gaming sector.
Based on these positive trends, Citigroup suggested that Macau’s gross gaming revenue (GGR) for June 2025 could exceed their forecast of MOP19 billion ($2.35 billion), which would represent a 5 percent year-on-year increase.
It is also worth noting that the Macau government reduced its forecast for the city’s 2025 GGR by about 5 percent earlier this month. The revised projection is MOP228 billion ($28.2 billion), down from its November forecast of MOP240 billion ($29.7 billion). The updated GGR figure represents a year-on-year growth of 0.5 percent, contrasting with the previous estimate’s projected 5.8 percent year-on-year gain on 2024’s GGR of MOP226.78 billion ($28.1 billion).
