【Macau Gaming Stocks】World Cup 2026 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 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, a year-on-year increase of 7%.

June gaming revenue data fell short of Citigroup's expectations

The significant month-on-month and year-on-year decline in June gaming revenue is not unrelated to the holding of the 2026 World Cup. Citigroup earlier released a report stating 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 is expected to decline by 10% year-on-year, and by 5% year-on-year in July. Recovery in gaming revenue is only expected after the tournament ends.

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

Citigroup predicts that despite the short-term slowdown, it remains bullish on the Macau market, suggesting that when short-term stock prices may weaken, investors should buy on dips for its top picks Galaxy Entertainment (00027) and Sands China (01928).

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