The government expects Macao’s gross gaming revenue (GGR) to reach 180 billion patacas for 2023, TDM reports.
Chief Executive Ho Iat Seng disclosed the figure to media after a reception held yesterday to mark the 24th anniversary of Macao’s handover to China.
The sum is a significant upgrade of the government’s original target of 130 billion patacas and puts the administration in line with gaming analysts, who for some months have been predicting an annual total of 180 billion patacas or more.
[See more: The amount of gaming tax collected in 2023 will outstrip official forecasts]
Ho’s estimate comes in the wake of a prediction by JP Morgan that Macao’s December gross gaming revenue (GGR) will hit 17 billion patacas. That would bring 2023’s total to 181.4 billion.
Meanwhile, Fitch Ratings recently suggested that 2024’s GGR could reach 231 billion patacas.
The figure is higher than the government’s prediction of 216 billion patacas for next year and would represent almost 80 percent of the 292 billion patacas generated in pre-pandemic 2019.
December’s retail sales in Macao plunged 21 percent year on year
Retailers across the key categories struggled to increase their receipts at the end of 2024, with the exception of those selling motor vehicles, whose takings soared
