Revenues up 686% year-on-year
The latest revenue report from Macau’s Gaming Inspection and Coordination Bureau (DICJ) has revealed that gaming revenues reached a post-pandemic high of MOP$17.21 billion (€2.03 billion/$2.21 billion) during the month of August.
The latest figures represent a 686% increase year-on-year and a 3.3% increase on July’s revenue total of MOP$16.66 billion (€1.87 billion/$2.06 billion). However, the report notes that comparison to 2022’s figures are misrepresentative as the industry was impacted by the temporary closure of casinos due to covid outbreaks.
The report also shows that the first eight months of 2023 saw Macau’s gaming operators report combined gross gaming revenue (GGR) of MOP$114 billion (€12.99 billion/$14.1 billion). This is an increase of 295% year-on-year, but just 57.5% of the MOP$198.22 billion (€22.5 billion/$24.5 billion) reported across the same period in 2019 before the pandemic.
Macau’s post-pandemic gambling record has been attributed to all six concessionaires reporting strong results in premium gaming segments during Q2 23 investor calls.
According to Morgan Stanley analysts, most Macau concessionaires are expected to return to 80% of pre-COVID EBITDA levels in Q3 23 while MGM China is projected to surge to 120% thanks to its additional gaming table supply.
