Macau's gross gaming revenue fell 10% year-on-year in October to MOP$21.68 billion ($2.68 billion), marking the jurisdiction's fifth consecutive monthly decline. According to the Gaming Inspection and Coordination Bureau, the result represents the second-largest annual contraction of the year, trailing only June's 12.1% drop. Despite the yearly decrease, total revenue increased 20% month-on-month compared to September.
Summary based on reporting by Yogonet, which retains all rights to its text and images.
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Global gambling operators experienced a strong performance across public stock exchanges in October as third-quarter financial results began to roll in. Major companies including Flutter Entertainment, Entain, and Rank Group saw significant share price gains despite broader market pressures from tax increases, job cuts, and strategic market exits.
MGM Resorts' LeoVegas-led international digital division narrowed its third-quarter loss to $4 million, approaching break-even behind strong performance in Spain, the Netherlands, and the UK. However, the segment's revenue growth decelerated sharply to 6% compared to the prior quarter. The slowdown comes as operators across the UK and Europe navigate an environment of rising tax burdens.
Coinbase Global reported a 34% year-over-year decline in third-quarter net revenue to $1.16 billion, missing analyst estimates amid subdued cryptocurrency trading and lower volatility. Despite the downturn in its core exchange business, the company's prediction market division surpassed $200 million in annualized revenue in less than a year of operation. The unit has emerged as one of the fastest-growing segments in the exchange's history.
Prediction market operator Kalshi has attained a $40 billion valuation after securing $1 billion in a new funding round co-led by Sequoia Capital and Wellington Management. The investment raises the company's total capital raised to approximately $3.6 billion as it expands into traditional financial trading. The milestone comes as the platform continues to navigate legal disputes regarding its sports-related contracts.
Gaming and Leisure Properties reported record third-quarter results, driven by a 9.5% year-on-year revenue increase to $435.4 million. The real estate investment trust also saw adjusted EBITDA rise 13% to $413.9 million, while adjusted funds from operations grew 10.5% to $311.7 million.