Macau's gambling market had a relatively mild start in early February. Data shows that in the first eight days of February, the total revenue was about 5 billion Macau patacas, with an average daily revenue of about 625 million Macau patacas. You know, this is about 14% lower than the average daily revenue of about 730 million Macau patacas in January, and it also slightly declined compared to the same period last year. Analysts generally believe that this is not a structural problem in the market, but a typical pre-Spring Festival seasonal pattern at play—many players have postponed their trips to the holiday itself. Despite the slow start, the market is still looking forward to a strong performance during the Lunar New Year Golden Week (this year's Spring Festival is on February 17), with total revenue for February still expected to reach about 20.5 billion Macau patacas, an estimated year-on-year increase of 4%. At the same time, record-breaking cross-border passenger flow data (such as 867,000 people on February 7 alone) provides solid support for a subsequent rebound.
Early February slowdown: Data performance and seasonal causes
So, what was the specific performance in early February? Simply put, it is a typical portrayal of the "pre-holiday off-season." Whether it's the high-end VIP customer group or the mass market, revenue has seen a month-on-month decline:
VIP business: Revenue fell by about 12%-14% compared to January.
Mass market: Revenue fell by about 11%-13% compared to January.
Analysts point out that the key profit margins remain normal, indicating that the decline is mainly due to reduced betting volumes rather than luck factors. The core logic behind this is the timing difference: the first half of February coincides with the peak of China's Spring Festival travel, with a large number of travelers returning home for reunions, thus naturally delaying leisure travel and gambling consumption. Therefore, the current slowdown is seen as a prelude to demand concentrating highly on the holiday, rather than a disappearance of demand.
Market segmentation and trend interpretation
Despite the slow start, observing January and February combined better reflects the real trend. Since the date of the Lunar New Year varies each year, simple month-to-month comparisons may be misleading. After calendar adjustments, the total revenue for the first two months of this year is expected to reach about 43.1 billion Macau patacas, with an approximate year-on-year increase of 13.5%, maintaining a steady growth momentum. Among them, January's revenue of 22.6 billion Macau patacas marked a significant increase of 24% year-on-year, starting the year off well. According to observations from the PASA official website, Macau's market recovery and growth are increasingly relying on deep cultivation of the mass market and non-gambling elements, as well as precise grasp of these seasonal fluctuations. Operators also indicate that booking conditions during the Spring Festival are encouraging.
Spring Festival outlook and core support
As the Spring Festival holiday (starting February 15) approaches, the market focus completely shifts to the holiday peak. To achieve the expected total of 20.5 billion Macau patacas for the month, it means that the average daily revenue in the remaining days needs to be close to 775 million Macau patacas. Strong passenger flow is the foundation of confidence. Customs data shows that on February 7, a record 867,000 cross-border movements were recorded, setting a new high, with a significant proportion of tourists. The border checkpoint processed nearly 463,000 people in a single day, the highest level in five years. These figures clearly show that the momentum for travel is very strong, just waiting for the holiday to start to translate into actual consumption and entertainment activities.
In summary, the mild performance of Macau's gambling market in early February is a normal rhythm adjustment under the Spring Festival effect. The fundamentals of the market, the strong willingness of tourists, and the optimistic expectations of operators all point to an upcoming holiday peak. For industry observers, understanding this periodic fluctuation pattern driven by major holidays is crucial. For more in-depth analysis of regional gambling market dynamics, continue to follow updates from the PASA official website.
————
This article is from "PASA-Global iGaming Leader" gambling industry news channel:https://t.me/pasa_news
Original in-depth gambling channel:https://t.me/gamblingdeep
Free data reports: @pasa_research
PASA Matrix: @pasa002_bot
PASA official website: https://www.pasa.news
