Revenues up by over 4,000% 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$16.66 billion (€1.87 billion / $2.06 billion) during the month of July.
The latest figures represent a 4,086.4% increase year-on-year and a 9.6% increase on June’s revenue total of MOP$15.21 billion (€1.72 billion / $1.89 billion). However, it should be noted that in 2022, the industry was impacted by the temporary closure of casinos due to covid outbreaks.
Despite setting a post-pandemic record, July’s revenue total fell well short of the MOP$24.45 billion (€2.7 billion / $3.03 billion) reported in July of 2019.
The report also shows that the first seven months of 2023 saw Macau’s gaming operators report combined gross gaming revenue (GGR) of MOP$96.80 billion (€10.9 billion / $12.0 billion). This is an increase of 263% year-on-year, but just 56% of the MOP$173.96 billion (€19.7 billion / $21.6 billion) reported across the same period in 2019 before the pandemic.
New hotels under construction
In related news, the Macau Land and Urban Construction Bureau reported that nine hotels were under construction in Macau as of the June 2023 quarter. This could potentially provide the island territory with 3,732 additional hotel rooms. The report also noted that another eight hotels are currently in the design stage.
Of the nine hotels under construction, seven are located on the Macau peninsula while the remaining two are on the Cotai reclamation area, including the Cotai Strip.
