Posted on: June 1, 2026, 11:26h.
Last updated on: June 1, 2026, 11:26h.
Shares of the six publicly traded casino operators in Macau are trading higher today after the enclave posted robust gross gaming revenue (GGR) in May.
SJM Resorts’ grand Lisboa Hotel in downtown Macau is pictured in January 2026. Gaming in Macau remained strong in May, as casino gamblers lost $2.8 billion to the six houses. (Image: Shutterstock)Macau’s Gaming Inspection and Coordination Bureau reports that the six casinos collectively won MOP22.61 billion (US$2.8 billion) from players last month. The tally was 6.7% higher than May 2025 and marked the best May since pre-pandemic 2019.
May benefited from a strong five-day Labor Day, which ran May 1-5. The city counted approximately 873,000 visitors during the holiday period, a 3% year-over-year increase. Buddha’s Birthday, which fell on Sunday, May 24, was said to have brought more than 400,000 visitors to the casino hub for the weekend.
Casino Stock Surge
May brought year-to-date Macau GGR to MOP108.37 billion (US$13.42 billion). The nearly 11% increase has investors optimistic about the world’s richest gaming market.
Shares of the six publicly traded casino companies were all higher as of midday US time trading. Las Vegas Sands, the dominant operator in Macau, was more than 4% higher.
Wynn Resorts was up 5.5%, Melco Resorts was up 4%, Galaxy Entertainment was up 2%, and SJM Resorts was up 1%. MGM Resorts soared over 14% on billionaire Barry Diller’s offer to acquire the Las Vegas-based gaming empire for $18 billion.
What Is Driving Growth?
2026 is exceeding expectations in Macau. Some thought that the Chinese casino destination would struggle to inch closer to pre-COVID-19 conditions because of fewer high rollers in town, a condition forced on the city by Beijing.
During the pandemic, Chinese President Xi Jinping instructed Macau, one of only two Special Administrative Regions in the People’s Republic, along with Hong Kong, to lessen its economic reliance on gaming. Xi’s government considered the extensive capital outflow of billions of dollars a year through the Macau tax haven as a threat to its national security.
To satisfy Beijing, in 2022, the Macau SAR Government demanded $16 billion in non-gaming investments from the six casinos in exchange for 10-year licensing extensions. The mandate was to diversify Macau from a gaming-first destination, with the hopes of making the city a more appealing setting for business and event gatherings, along with attracting families and leisure travelers.
The bet has paid off. Casino revenue is 86% of the 2019 level through May, and visitor arrivals are outpacing pre-pandemic numbers. In April, the most recently reported month, 3,441,396 border crossings were tallied. In April 2019, the count was 3,432,187.
Analysts credit resilient consumer demand and improving tourism trends, with the mass market propelling action on the gaming floors, for Macau’s year-to-date 2026 performance.
China’s overall economy is projected to grow by 4.5% to 5% this year, with tech fueling the growth.
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