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

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The Macau Gaming Inspection and Coordination Bureau announced that gaming revenue in June was 18.52 billion 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 patacas, up 7% year-on-year.

June gaming revenue falls short of Citi expectations

The significant month-on-month and year-on-year decline in June gaming revenue is not unrelated to the 2026 World Cup. Citi earlier released a report, predicting that due to the top-tier football tournament held from June 11 to July 19 (North American time), Macau's gross gaming revenue (GGR) in June this year would decline by 10% year-on-year, and by 5% in July, with recovery not expected until after the event concludes.

Citi's report notes that historical analysis shows that major football tournaments divert Macau players' gaming budgets, and this year's expanded format with more matches (adding 16 participating teams and a new round of 32 in the knockout stage) could have a more severe impact.

Citi predicts that despite the short-term slowdown, it remains bullish on the Macau market and suggests buying on dips during potential short-term stock price weakness, recommending its top picks Galaxy Entertainment (00027) and Sands China (01928).

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