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

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Macau Gaming Inspection and Coordination Bureau announced that June gaming revenue was 18.52 billion Macau patacas, a year-on-year decrease of 12% and a month-on-month decrease of 18%. In the first six months of this year, gaming revenue was 126.9 billion Macau patacas, an increase of 7% year-on-year.

June Gambling Revenue Data Misses Citi Expectations

June gambling revenue declined significantly month-on-month and year-on-year, which is not unrelated to the 2026 World Cup. Citi previously published a report, predicting that affected by the top-level football tournament held from June 11 to July 19 (North American time), Macau's gross gaming revenue (GGR) in June this year will decline 10% year-on-year, and 5% year-on-year in July. Only after the tournament ends can gambling revenue be expected to recover.

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

Citi predicts that despite short-term slowdown, it remains bullish on the Macau market, and suggests buying on weakness when short-term stock prices may soften, for its top picks Galaxy Entertainment (00027) and Sands China (01928).

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