Macau’s gaming labor market continued its downward trajectory within the third quarter of 2025, extending a pattern that has persevered for 3 straight year-on-year comparisons. The most recent replace from the Statistics and Census Service offers a transparent snapshot of a sector adjusting to structural change as long-running satellite tv for pc casinos put together to shut and rules reshape the working panorama for all six concessionaires.
Workforce Ranges Hit Lowest Level Since Late 2023
On the finish of September, town counted roughly 68,900 people working inside the gaming business, a 3.6 p.c decline from the identical interval final 12 months. This marks the bottom staffing stage registered for the reason that closing quarter of 2023, when employment totaled 67,400. Probably the most important discount occurred inside “betting-related” jobs—together with croupiers and cage managers—which fell 6.6 p.c year-on-year to 38,800 employees. It was the third consecutive quarter through which these positions contracted in comparison with the earlier 12 months.
These workforce shifts are occurring on the similar time that Macau prepares for the most important operational restructuring of its on line casino market in additional than a decade. With the satellite tv for pc on line casino mannequin approaching its formal finish, the employment base tied to those venues has begun to recede as operators realign staffing and reassign roles.
The decline in gaming employment coincides with the continued closure of town’s satellite tv for pc casinos. Beneath the up to date regulatory framework—aligned with the brand new concession interval—third-party buyers will, starting subsequent 12 months, now not be entitled to gaming income. As a substitute, they may solely be permitted to earn a “administration price” by means of a licensed “administration firm.” This shift has led a number of operators to withdraw assist for satellite tv for pc venues fully.
In June, SJM Holdings Ltd, Galaxy Leisure Group Ltd, and Melco Resorts & Leisure Ltd every introduced plans to cease supporting satellite tv for pc casinos by the tip of the 12 months. Earlier this 12 months, Macau nonetheless had 11 such venues. At the moment, solely six stay in operation: On line casino Casa Actual, On line casino Landmark, On line casino Kam Pek Paradise, On line casino Fortuna, On line casino Ponte 16, and On line casino Le Royal Arc (also called On line casino L’Arc Macau). On line casino Casa Actual is scheduled to stop operations at 11:59 p.m. on November 21.
In keeping with GGRAsia, authorities projections launched in June estimate that 5,600 native residents will probably be affected by the satellite tv for pc closures. This contains 4,800 employees tied to concessionaires that affixed their licenses to satellite tv for pc operations, 800 workers of satellite tv for pc venue house owners, and an additional 400 imported employees. Authorities have instructed concessionaires to combine Macau-resident workers from closing satellite tv for pc venues into their very own operations to assist keep away from long-term unemployment through the transition.
Early November GGR Reaches US$1.39 Billion Regardless of Gentle Slowdown
Alongside staffing changes, new information presents a preview of Macau’s income efficiency for November. Citigroup estimates that gross gaming income for the primary 16 days of the month reached MOP11.1 billion (US$1.39 billion), averaging MOP671 million per day based mostly on sector checks. The establishment reported a “circa 6-percent moderation in GGR run-rate versus that of the primary 9 days of November 2025 (about MOP711 million a day).”
Citigroup prompt that short-term lodge capability constraints through the fifteenth Nationwide Video games—co-hosted by Macau, Guangdong, and Hong Kong—performed a job, noting that “We suspect the minor moderation in GGR is attributable to some lodge rooms being occupied by the athletes collaborating within the Nationwide Video games, resulting in a brief small decline in common gamers’ size of keep (and play).”
Its memo additional said that “VIP volumes declined about 6 to eight p.c month-on-month and mass GGR fell circa 8 to 10 p.c month-on-month,” whereas including that “VIP maintain price seems to be little modified versus the primary 9 days of the month.” Regardless of the softer week-two outcomes, the establishment maintained its forecast: “We conservatively preserve our November 2025 estimate GGR forecast of MOP20.5 billion unchanged – roughly 90 p.c of November 2019; +11 p.c year-on-year –, implying GGR to common about MOP671 million a day for the remainder of the month.”
Citigroup reiterated in September that it had raised its full-year forecast to MOP248.6 billion, supported by an increasing lineup of concert events and occasions and the “growing recognition” of baccarat aspect bets throughout the market.
