Macau’s August GGR hits €2.2 billion ??

Jenny Ortiz September 2, 2024

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Macau’s August GGR hits €2.2 billion ??

Macau’s gaming industry showed promising signs of recovery in August, as the city’s gross gaming revenue (GGR) soared to MOP19.75 billion (€2.2 billion). This figure represents a 14.8 percent increase compared to the same month last year, according to the latest data from Macau‘s Gaming Inspection and Coordination Bureau (DICJ). ?

The August revenue is also 6.2 percent higher than the figures reported in July, making it the second-best monthly performance since the pandemic-induced restrictions were lifted in early 2023. Only May 2023 saw a slightly better performance, with a GGR of MOP20.18 billion (€2.26 billion).

Year-to-date performance and projections?

From January to August 2024, Macau‘s GGR totalled MOP 152.1 billion (€17.1 billion), marking a 33.4 percent increase compared to the same period in 2023. This robust performance reflects a steady recovery in the gaming sector, which was heavily impacted by the COVID-19 pandemic. ?

Notably, the year-to-date revenue accounts for approximately 70 percent of the Macau government’s full-year forecast of MOP216 billion (€24.3 billion), indicating that the industry is on track to meet, if not exceed, government expectations.

Comparison to pre-pandemic levels?

Despite the encouraging growth, Macau’s gaming revenue has not yet returned to pre-pandemic levels. August’s GGR is still 18.6 percent lower than the MOP24.26 billion (€2.7 billion) recorded in August 2019. Similarly, the year-to-date figures for 2024 are 23.3 percent below the MOP198.22 billion (€22.3 billion) achieved in the first eight months of 2019. This gap highlights that while the recovery is underway, full normalisation has yet to be reached.

Outlook for Macau’s gaming industry?

The steady recovery of Macau’s gaming sector is a positive sign for the city’s economy, which heavily relies on this industry. The better-than-expected results demonstrate resilience and growing confidence among investors and tourists alike. As Macau continues to ease travel restrictions and implement measures to attract visitors, the gaming industry is expected to maintain its upward trajectory. However, achieving full recovery will require sustained growth to close the gap with pre-pandemic revenue levels.?

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