Listen To Article
Figures from the Gaming Inspection and Coordination Bureau (DICJ) have highlighted Macau’s highest gross gaming revenue (GGR) ps of the year so far, up 29.7% year-on-year to MOP$20.18bn (US$2.50bn).
Positive results from Macau indicate that GGR is edging ever closer to pre-Covid levels, with another notable uptick year-on-year evident in these latest ps. Furthermore, the revenue results for May bring 2024’s total cumulative GGR up to MOP$96.1bn, a 47.9% rise from the p generated over the first five months of 2023.
In comparison to pre-Covid levels, GGR is still down – with ps from May 2019 showing an income of MOP$25.9bn, around 20% higher than May 2024.
However, the rise in revenue compared to ps reported during Covid is evident and encouraging, with GGR from May 2022 reaching just MOP$3.3bn. This means that GGR from May this year is 512% higher than that of the same month two years ago.
Looking ahead, numerous local analysts suggest that a dip in GGR for the month of June is to be expected, as poor weather cycles generally lead to a seasonal lows during this time period.
These latest ps come shortly after the Executive Board of the International Monetary Fund (IMF) forecast that – thanks to numerous diversification efforts – Macau’s economy is set to return to pre-pandemic levels in the medium term.
Indeed, the latest ps have not been the only contributor toward this prediction, as March saw Macau’s revenue rise 53% yearly to MOP$19.5bn. April’s ps took a slight downturn, as GGR settled at MOP$18.5bn, with the number of arriving visitors also dropping by 3.5%. Nevertheless, GGR in April 2024 was still 26% higher than April 2023’s.
