Macau’s casino revenues hit MOP183.06 billion for the whole year of 2023.
Data from the Gaming Inspection and Coordination Bureau shows that gross gaming revenues in December reached MOP18.6 billion.
The result was better than the median analyst estimate of a 402% year-on-year increase, and has returned to 81.3% of 2019 levels.
Analysts from JP Morgan analysts observed that last month’s earnings was the first time it reached 80% of pre-Covid levels.
The 2023 earnings have also exceeded the Chief Executive’s expectations of MOP180 billion, which is MOP50 billion more than it expected earlier last year.
The six gaming concessionaires are required to pledged an additional 20% in their gaming investment, as stipulated in their contracts with the government.
Following winning licenses to operate late 2022, and under the city’s biggest gaming law overhaul, the six casino operators agreed to invest a total of MOP118.8 billion after being granted 10-year operating licenses, with the bulk of the money pledged to non-gaming projects.
In October last year, Fitch Ratings expected that full-year gaming revenue has been further to almost 80% of its 2019 level.
Tourist arrivals at 28 million
Macau recorded 28.23 million visitor arrivals last year – 70% of pre-pandemic levels.
Data from the Macau Government Tourism Office (MGTO) shows that the 77,000 daily average was up about 395% compared to 2022.
Meanwhile, on New Year’s Eve, Macau recorded a new post-pandemic record as arrival hit 175,030.
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