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Wynn Resorts says the recent Macau gaming slowdown is difficult to attribute to a single cause but remains optimistic that weaker customer spending will be temporary. The comments come as Macau records a fourth consecutive month of year-on-year GGR declines, with September revenue falling 1.2% to MOP18.06 billion. World Cup timing, seasonality and China’s offshore-tax policy are among the factors being considered as operators assess the market’s softer performance.

Macau’s mass-market gaming segment is expected to remain the main driver of casino revenue growth, according to the IMF. Mass-market play accounted for around 73% of casino gross gaming revenue in 2025, while tighter regulation and AML/CFT controls have reduced the role of VIP gaming. The shift is reshaping Macau’s casino industry as the territory continues its post-pandemic recovery and pursues broader economic diversification.