CreditSights is holding back from calling Macau's recent gaming slowdown a lasting structural change. The research firm expects October's gross gaming revenue to provide a stronger test after Golden Week, according to Inside Asian Gaming.
The caution follows several softer monthly comparisons. Macau's official gaming-revenue table puts September GGR at MOP18.06 billion, below the level recorded a year earlier. CreditSights argues that June and July were distorted by the football World Cup and should not alone be treated as proof of a permanent shift.
Visitor volume and gaming spend are also moving in different directions. The Statistics and Census Service recorded 3,216,535 arrivals in September, 15.9 percent more than a year earlier. CreditSights calculated GGR per visitor at MOP5,616, a 15 percent annual decline, suggesting that recent growth has depended more on volume than on higher spending by each visitor.
The firm still sees room for Macau to meet its 2026 gaming-revenue target. It estimates that the fourth quarter needs average monthly GGR of MOP16.3 billion, but says the October reading will be more informative because it captures a major holiday period. The assessment remains an analyst view rather than an official forecast, and the October figure has not yet been released.
