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GGR at Macao’s casinos increases by 247 percent year-on-year

Some analysts are predicting that the territory’s casinos will equal or even exceed their pre-pandemic level of earnings as early as next year.

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Some analysts are predicting that the territory’s casinos will equal or even exceed their pre-pandemic level of earnings as early as next year.

ARTICLE BY

PUBLISHED

READING TIME

Less than 1 minute Minutes

UPDATED: 22 Dec 2023, 12:27 am

Gross gaming revenue (GGR) at Macao’s casinos last month increased by 247 percent year-on-year from 3.67 billion patacas to 12.74 billion patacas, according to the latest figures from the Gaming Inspection and Coordination Bureau (DICJ).

The March total was up from the GGR in February, which stood at around 10.32 billion patacas.

Accumulated revenue stood at 34.64 billion patacas, up 95 percent year-on-year.

GGR is still well down on pre-pandemic figures, however. From 2017 until the pandemic, the figure generally stood above 20 billion patacas. 

[See more: Top gaming industry figure backs calls for diversification]

While some gaming insiders are not predicting a full recovery until the end of the decade, others are more optimistic.

A report earlier this month by JP Morgan estimated that earnings will “recover to about 100 percent to 110 percent [of pre-pandemic levels] in 2024 to 2025”.

Credit ratings agency Fitch also said this month that Macao’s outlook was “stable” and highlighted the territory’s ability “to capture strong pent-up demand from mainland Chinese tourists, given its status as the sole legal gaming tourism destination across Greater China and its geographic proximity to the mainland”. 

 

UPDATED: 22 Dec 2023, 12:27 am

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