Macau casinos continue strong recovery
Macau’s Gaming Inspection and Coordination Bureau (DICJ) has published its latest monthly report for the month ending November 30th revealing that gross gaming revenue (GGR) was up by 435% year-on-year.
According to the report, GGR for the month came to MOP$16.04 billion ($1.99 billion/€1.75 billion), a drop of 17.74% on the post-COVID record of MOP$19.5 billion ($2.42 billion/€2.23 billion) recorded in the previous month. The dip was expected after October’s GGR reached an estimated MOP$6.65 billion ($825 million/€778.4 million) for the annual Golden Week holiday period. This resulted in the best average daily figure recorded since the last pandemic closures.
The November result has shown that Macau’s gaming industry continues its strong recovery from the COVID-19 pandemic. Analysts now estimate that mass gaming revenues are back to 100% of 2019 levels or better. This could see FY23 revenues reach more than US$20 billion/€18.4 billion.
The first 11 months of the 2023 calendar year has seen combined gaming GGR of MOP$164.5 billion ($20.4 billion/€18.8 billion), up 325% year-on-year. So far GGR has climbed back to 61% of the MOP$269.6 billion ($33.5 billion/€30.9 billion) reported in the first 11 months of 2019.
Q3 Revenues Down
Earlier in October, Macau’s Gaming Inspection and Coordination Bureau reported that the quarterly period ending September 30th (3Q23) revealing that saw gross gaming revenue (GGR) drop by 6.7% on 2019’s pre-pandemic figures.
However, the government also reported that it collected a total of MOP$45.8 billion ($5.68 billion) for the first nine months of 2023 This represented a 203% increase year-on-year.
