Macau gaming revenue surges 19% in July, beating estimates again

Macau’s gaming industry continued its strong rebound in July, posting a 19% year-on-year rise in gross gaming revenue to 22.1 billion patacas (USD2.7 billion), according to figures released today (Friday) by the Gaming Inspection and Coordination Bureau . This marks the fourth straight month the city has outperformed analyst projections, with the latest figure surpassing the expected 13% increase.

Revenue levels have now recovered to 90% of their pre-pandemic peak in 2019 — the most substantial post-Covid rebound to date.

Premium bettors drive gains

Despite a typhoon affecting the region mid-month, gaming demand remained resilient. A Citigroup survey found that premium players spent 32% more during that weekend than in the same period last year. Analysts credit the surge to strong sentiment among high rollers, bolstered by positive movements in the Hong Kong and mainland China stock markets, Bloomberg reported Friday.

At the same time, casino operators have intensified their efforts to lure mass-market tourists. Companies such as Sands China, Galaxy Entertainment, and MGM China have expanded luxury hotel offerings and launched entertainment events and concerts to drive foot traffic.

Tourism recovery boosts sector

Macau saw 2.9 million tourist arrivals in June — 93% of the corresponding 2019 level — with July data expected soon. The rise in visitors is further strengthening the city’s gaming momentum.

While recent figures are encouraging, concerns persist over the sustainability of the recovery. China’s slowing economy and ongoing trade uncertainties could affect big spenders, many of whom are involved in the country’s struggling real estate and trade sectors.

In July, the Bloomberg Intelligence index tracking Macau’s casino operators climbed 21%, outperforming the broader Hang Seng Index, which gained just 3%.