Macao Casino Revenues Climb 4.5% in February as Lunar New Year Boosts Visitor Numbers

Casino operators in Macao recorded a solid increase in gaming income during February, with revenue rising 4.5% year-on-year as the Lunar New Year travel period attracted large numbers of visitors to the Pearl River Delta special administrative region.

According to the city’s gambling regulator, the Gaming Inspection and Coordination Bureau, Macao’s gross gaming revenue reached 20.62 billion patacas in February, equivalent to roughly $2.56 billion. The results, reported by Bloomberg, exceeded analyst expectations, which had projected only a modest 1% year-on-year rise.

Revenues Recovering Toward Pre-Pandemic Levels

The regulator noted that Macao’s gaming industry continues its gradual recovery from the disruption caused by the COVID-19 pandemic. According to the bureau, casino revenues have now climbed back to more than 81% of the levels recorded in 2019, before the global health crisis severely impacted travel and tourism.

Casino operators in Macao reported that they organized a variety of special events and promotional programs during the Lunar New Year period to draw in tourists. The holiday season traditionally sees heavy travel from China, Japan, and other parts of Asia, with many visitors choosing Macao’s integrated resorts as their destination.

Strong Start to the Year

The first two months of the year have been particularly profitable for the region’s gaming sector. The regulator announced that gross gaming revenue for January and February combined reached $5.37 billion, representing a 14% increase compared with the same period in 2025.

Despite the positive start to the year, industry analysts say the sector faces growing pressure to reduce operational costs while continuing to attract tourists to Macao’s casino resorts.

Some observers warn that near-term growth may remain limited because of broader economic conditions in mainland China. The country’s economy has been weighed down by a prolonged property market slump, while high youth unemployment and ongoing global trade tensions have also dampened discretionary spending, including gambling.

Casino Industry Growth Across East Asia

The upward trend in casino attendance and revenues is not limited to Macao. Gaming operators elsewhere in East Asia have also reported improving results.

South Korean news agency Yonhap News Agency reported last month that Paradise Co., Ltd. achieved record annual revenue of 1.1499 trillion won—nearly $8 billion—for 2025. The company’s operating profit also reached a new high, increasing 15% year-on-year to $105 million.

Paradise operates Paradise City, a large casino resort located near Incheon International Airport. The company reported that its casino revenue during the fourth quarter of last year rose by more than 11% to reach KRW 227.1 billion, or approximately $152 million.

The firm has also expanded its hospitality portfolio by acquiring the West Tower of the Grand Hyatt Incheon. The transaction will allow the resort operator to add more than 500 additional guest rooms to its facilities.

In addition, Paradise has entered into a partnership agreement with the Tokyo-based travel company HIS Co., Ltd., according to the South Korean media outlet Newsis.

Commenting on the agreement, Kim Jae-hwan said the partnership would help the company “strengthen marketing drives” aimed at Japanese travelers. He added that Japanese visitors remain “Paradise City’s main customer base.”

Market Pressures Persist

Despite the positive operational results, casino company stocks in South Korea have recently come under pressure amid a broader market downturn.

Shares of Paradise have fallen nearly 10% over the past five days on the Korea Exchange. Meanwhile, the share price of Grand Korea Leisure has declined by more than 4% during the same period.

Stock prices at Kangwon Land, the operator of South Korea’s only casino open to domestic passport holders, also slipped by about 3.9%.

The wider market has experienced a sharper downturn. The KOSPI, which tracks all shares listed on the Korea Exchange, dropped by more than 7% on March 3 after the outbreak of hostilities involving the United States, Israel, and Iran rattled global financial markets.

By fLEXI tEAM