CICC Reports November GGR Exceeds Expectations; December GGR Estimated Between MOP20.2B and MOP21.7B
Written by Emily J. Thompson, Senior Investment Analyst
Updated: Dec 02 2025
0mins
Source: aastocks
Macau's GGR Performance: In November, Macau's Gross Gaming Revenue (GGR) reached MOP21.1 billion, marking a 14.4% year-on-year increase but a 12.4% month-on-month decline, surpassing market expectations of 10.5% growth.
Average Daily GGR: The average daily GGR for November was MOP703 million, which is a decrease of 9.5% from October's average of MOP777 million.
Future Projections: UBS forecasts that Macau's GGR for December 2025 will be between MOP20.2 billion and MOP21.7 billion, indicating a year-on-year increase of approximately 11-19%.
Comparison to 2019 Levels: Despite the growth, the projected GGR for December remains 5-12% lower than the levels recorded during the same period in 2019.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
