[Macau Gaming Stocks] World Cup 2026 Diversion Effect? Macau’s June Gaming Revenue Drops 12% Year-on-Year to 18.5 Billion

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The Gaming Inspection and Coordination Bureau of Macao announced that this year’s gaming revenue in June was 18.52 billion Macau patacas, down 12% year-on-year and 18% month-on-month. In the first six months of this year, gaming revenue was 126.9 billion Macau patacas, up 7% year-on-year.

June gambling revenue data disappoints Citigroup expectations

June’s gaming revenue fell significantly month-on-month and year-on-year, which is not unrelated to the 2026 World Cup being held. Citigroup had previously released a report, expecting that the impact of top-tier football events held from June 11 to July 19 (North American time) would cause Macau’s total gaming gross revenue (GGR) for June to decline by 10% year-on-year, and by 5% year-on-year for July. Only after the tournament ends would revenue be expected to pick up again.

Citigroup’s report said that historical analysis shows that major football events can spread out Macau players’ gaming budgets. This year’s expanded tournament format, after its expansion, includes more matches (adding 16 participating teams, and introducing an additional set of 32 matches in the knockout stage), which may bring an even more severe impact.

Citigroup expects that despite a short-term slowdown, it remains optimistic about the Macau market. It recommends accumulating its preferred stocks—Galaxy Entertainment (00027) and Sands China (01928)—at lower prices if short-term share prices weaken.

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