Gaming operators reported a significant rebound in gross gaming revenue (GGR) for August, reaching MOP19.8 billion (USD2.46 billion), a 14.8% increase year-on-year and a 6.2% rise from July, according to the Gaming Inspection and Coordination Bureau (DICJ). This figure, which is the city’s second-best post-pandemic revenue, represents 81.5% of the GGR recorded in August 2019, when revenues were at MOP24.3 billion ($3.02 billion).
The month-to-month growth can be attributed to seasonal trends, as the summer vacation period typically sees increased visitor numbers and gaming activity. Moreover, August benefited from an advantageous calendar, featuring five Fridays, five Saturdays, and four Sundays, leading to 14 weekend days compared to just 12 in July.
For the first eight months of 2024, total GGR reached MOP152.1 billion ($18.9 billion), marking a 33.4% increase from the same period last year.
Despite the positive trends, analysts caution that a recent crackdown by authorities on illicit money exchange operations may pose challenges. Vitaly Umansky, an analyst at Seaport Research Partners, noted that this crackdown could deter some visitors and negatively impact money flow into Macau. However, he anticipates that the situation will stabilize in the medium term.
Macau’s gaming sector is also facing scrutiny regarding its economic dominance.
Former top judge Sam Hou Fai, poised to become the city’s new leader in October, expressed concerns about the unchecked expansion of the gaming industry, suggesting that a lack of diversification could harm the territory’s long-term development.
He emphasized the need for a balanced approach to economic growth, warning that reliance on a single industry could limit opportunities for the younger population.
The government projects that the city’s GGR for casinos in 2024 will reach MOP216.0 billion.
As of August, the casino sector has generated MOP133 billion in revenue. Nadia Shaw
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