Macao’s casinos generated a total gross gaming revenue (GGR) of 19.5 billion patacas (US$2.4 billion) in March, according to the latest figures from the Gaming Inspection and Coordination Bureau (also referred to by its Portuguese initials DICJ).
It marks a month-on-month rise of almost 5.5 percent, compared to the nearly 18.5 billion patacas (US$2.29 billion) recorded in February.
Year-on-year, the latest total represents an increase of roughly 42 percent compared to March 2023, which saw GGR of 12.7 billion patacas (US$1.57 billion).
[See more: Gross gaming revenue will grow by over 20 percent in 2024: Deutsche Bank]
The March total is the second highest recorded since the end of pandemic restrictions in January 2023.
Analysts at Morgan Stanley and Deutsche Bank Securities believe Macao’s total GGR in 2024 will jump by more than 20 percent year-on-year, with Morgan Stanley predicting a total of 234 billion patacas (US$28.98 billion), or a 28 percent increase.
The local government’s forecast is more conservative, and stands at 216 billion patacas or an 18 percent increase over last year.
