Gaming results in March meet expectations

Revenues from local casinos last month have aligned precisely with forecasts by several consulting, financial and investment institutions.

According to an official release by the Gaming Inspection and Coordination Bureau (DICJ), gross revenues for March totaled MOP19.503 billion, marking the highest month this year thus far, surpassing January’s figures (MOP19.337 billion).

March’s revenue represented a 53.1% increase year-on-year, compared to 2023 when casinos earned MOP12.738 billion.

Several financial institutions had previously forecasted March Gross Gaming Revenue (GGR) to fall between MOP19 billion and MOP19.5 billion, a figure confirmed by the official records.

According to public broadcaster TDM, gaming analyst and managing partner at IGamiX, Ben Lee, has said the March figure was in line with the most optimistic forecasts from local market experts.

Lee said GGR is expected to be range bound between MOP18.5 to 19.5 billion per month for most of the year, with a possibility of some growth towards the end of the year.”

The expert did not believe local casinos would see monthly GGR results returning to 2019 highs, when monthly revenue was consistently above MOP20 billion, “primarily because we no longer have the VIP segment.”

According to projections cited by Lee from local experts, the local market should be worth somewhere between MOP18.5 billion and MOP19.5 billion this year.

He said current results are already at the upper end of projections but noted signs of stability in the market.