However, Prof. Davis Fong of the University of Macau cautions that the territory still faces headwinds and notes that tourists are spending less.
gross gaming revenue
Macao’s leader says gross gaming revenue needs to hit 230 billion patacas in a year before sufficient taxes will be generated to end the deficit.
Last month marked the highest gross gaming revenue recorded in Macao post-pandemic; with 9.6 percent month-on-month growth.
Analysts say the strong gross gaming revenue performance during the first nine days of July ‘bodes well for upcoming summer holidays.’
Analysts say Macao is capable of generating comfortably more gaming revenue than the government has targeted this year.
After comparing first-quarter results from all six concessionaires, a top consultant hails MGM for pulling off particularly impressive jumps in gaming revenue and earnings.
New figures show that gaming taxes accounted for more than 75 percent of the Macao government’s total revenue for the first four months of 2023.
The government has now raked in a fifth of the total it hopes to raise from casino operations during this year.
Upbeat, new reports are adding to the consensus that the post-pandemic recovery of Macao’s gaming industry is healthily on track.