Gross gaming revenue (GGR) at Macao’s casinos increased by more than 4,000 percent year-on-year last month, according to the latest figures from the Gaming Inspection and Coordination Bureau. That rise – from 398 million to 16.66 billion patacas – is due to the fact Macao was locked down for parts of July 2022.
During that time, all casinos ceased operations for 7 days as a Covid-19 outbreak wracked the city.
July’s total was up from the GGR in June 2023, which stood at 15.21 billion patacas – 9.6 percent month-on-month growth. Accumulated revenue stood at 96.79 billion patacas, up 263 percent year-on-year.
Investment bank JP Morgan applauded the solid performance of Macao’s casino’s throughout July – especially in the face of a typhoon, TDM reported. Other analysts noted that mass market revenue for July was beginning to approach pre-pandemic levels, and that the premium mass was exceeding pre-pandemic levels.
To compare, the monthly GGR figures generally stood above 20 billion patacas from 2017 until the onset of Covid-19 at the start of 2020.
Monthly GGR remains lower than pre-pandemic totals. To compare, the monthly figures generally stood above 20 billion patacas from 2017 until the onset of Covid-19 at the start of 2020.
Nearly 60 billion patacas in gaming taxes will be collected in 2023, according to projections.