Macau’s casino market made a solid start to March, with Citi estimating gross gaming revenue at MOP5.65 billion for the first eight days of the month.
That puts the daily average at about MOP706 million. Citi said that was 11% higher than the same period last year and a good sign for the rest of the month.
First eight days point to steady demand
The March daily average was about 4% lower than February’s full-month pace, but the year-on-year result was still encouraging. It suggests Macau did not lose momentum once the Chinese New Year period ended. The market is still holding up well after a strong start to 2026.
Official figures showed Macau generated MOP22.63 billion in January and MOP20.63 billion in February. That brought total GGR for the first two months of the year to MOP43.26 billion, up 13.9% from the same period in 2025.
VIP and mass play were a little softer
Citi said some parts of the market were not as strong as the headline number suggested. Its channel checks showed VIP play was lower by about 2% to 4% from February. Mass market GGR was also slightly lower, slipping by around 3% to 5%.
A better VIP hold rate helped support the overall result. That gave the early March figures a lift even though player activity was a little softer in some segments.
Concerts helped bring people into the resorts
Entertainment appears to have helped early March traffic at Macau’s big integrated resorts. Treasure performed at The Venetian Arena on March 6, while aespa played Galaxy Arena on March 7 and 8. Wang Sulong also performed at Galaxy Arena in late February and on March 1.
These events help bring in visitors, fill hotel rooms and keep spending moving across the resorts. They have become a bigger part of how operators support business during quieter parts of the calendar.
Citi keeps full-month forecast unchanged
Citi has kept its March forecast at MOP22.5 billion. If that number is reached, monthly GGR would be about 14% higher than in March 2025. To get there, Macau would need to average about MOP733 million a day for the rest of the month.
That still looks within reach. JPMorgan has also been looking for a month of more than 10% year-on-year growth, based on a daily average of about MOP700 million.
Q1 is still shaping up well
If March finishes near current forecasts, Macau will close the first quarter with a healthy gain from last year.
That would show demand is still there, even if VIP and mass performance are not moving at exactly the same pace.
