Record Chinese New Year Visitation in Macau Helps Lift Casinos in February
Posted on: March 2, 2026, 09:24h.
Last updated on: March 2, 2026, 09:24h.
- Macau casinos won $2.55 billion in February
- The resorts benefited from record visitor numbers during the Lunar New Year
February was yet another prosperous month for casinos in Macau.
Macau benefited last month from the Chinese New Year fully landing in February. The nine-day holiday ran from Feb. 15-23, with most mainland workers afforded paid time off. This differs from the 2025 Lunar New Year, which was split between January and February.
Macau’s Gaming Inspection and Coordination Bureau reports that February gross gaming revenue (GGR) from games of fortune totaled MOP20.62 billion (US$2.55 billion). The casino win marked a 4.5% gain on the prior year.
The $2.55 billion haul from the six casino concessionaires topped the consensus expectation of 1% GGR growth. Estimates were subdued after the first few days of the Chinese New Year were reported soft. However, a surge in late-week travel led to casino revenue eclipsing $150 million a day.
Through two months, Sands, Galaxy, Wynn, MGM, Melco, and SJM have won $5.36 billion from gamblers, almost 14% higher than January-February 2025.
New Year, New Market
The Macau Government Tourism Office reported that approximately 1.55 million people visited Macau during the Chinese New Year. One of two Special Administrative Regions under China’s control, Macau and Hong Kong are popular destinations for the Lunar New Year festivities.
The 1.55 million visitors counted at Macau’s border gates was an all-time high since the MGTO began counting holiday traffic in 2006. Last year marked the second year of Macau’s post-pandemic recovery, with GGR up 9.1% from 2024 and 35% higher than 2023.
Macau’s gaming market has successfully pivoted from a high roller to a premium and mass market focus. The casinos’ hand was forced through their 2022 relicensing, with Beijing ordering the local government to crack down on VIP junket groups.
That’s why, despite 300K more people traveling to Macau during the Chinese New Year in 2026 than in 2025, and the holiday fully occurring in February, GGR climbed only 4.5%. Analysts in Asia say Macau casino resorts with a heavier exposure to premium mass and non-gaming attractions likely benefited most from the influx of traffic during the New Year period.
The consensus GGR projection for March is roughly 13% year-over-year growth, or MOP22.2 billion (US$2.75 billion).
Middle East Worries
March gaming revenue and tourism could be impacted by the Middle East after the US and Israel attacked Iran over the weekend. Economists say China will be among the biggest losers of the Iran takedown, which could impact mainlanders’ leisure spending and domestic travel capabilities.
For a global economy that’s been muddling through Trump’s tariff rollout and growing uncertainty over the impact of Artificial Intelligence on labor markets, the latest spike in Middle East tensions adds yet more uncertainty,” read a note from TD Securities.
“Chinese refiners would be impacted if Iranian barrels are disrupted, given they import an estimated 99% of Iranian exports, equivalent to about 13% of Chinese seaborne crude imports in 2025,” the note continued.
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