CreditSights: Gaming revenue to grow by 8% this year

Macau’s gross gaming revenue (GGR) is projected to grow by 8% in 2024, surpassing the government’s target for 2025, according to CreditSights.

The Fitch Group division estimates that GGR could reach MOP 245 billion this year, slightly higher than the government’s target of MOP 240 billion, and would represent 84% of the pre-pandemic level seen in 2019.

“This projection assumes that visitor numbers in 2025 will improve to around 94% of 2019 levels, and that GGR per visitor will see a modest 2% year-on-year increase, rising to MOP 6,606 from MOP 6,493 in 2024,” the firm added.

Macau’s GGR in 2024, initially projected at MOP216 billion, has already surpassed the target for last year, reaching MOP226.8 billion—an increase of 24% compared to 2023.

CreditSights also pointed to several “positive catalysts” supporting the gaming sector, including the easing of travel restrictions and the completion of casino renovations, room conversions, and new entertainment offerings.

Hotel occupancy is expected to improve this year, fueled by new projects from the city’s gaming operators.

Macau welcomed an estimated 35 million visitors in 2024, a 24% increase year-on-year, although this still represents only 89% of 2019 arrival numbers. Staff Reporter