Macau’s gross gaming revenue reached $2.29 billion by April

Rachel Rigby May 2, 2024

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Macau’s gross gaming revenue reached $2.29 billion by April

In April, Macau witnessed a significant boost in its gross gaming revenue (GGR), which soared to MOP$18.55 billion (US$2.29 billion). This represented a 26.0% increase from the figures recorded in the same month the previous year, highlighting a recovery in the gaming industry. However, this represents a 21.4% decrease from the MOP23.6 billion (US$2.91 billion) recorded in April 2019, before the onset of the Covid-19 pandemic. Despite this gain, it fell slightly short of the MOP$19.5 billion (roughly US$2.42 billion) seen in March, showing a slight variation in the monthly revenue figures.

Factors of the downturn

Many had predicted the recent dip in financial performance, with industry experts often citing seasonal trends as a key factor. JP Morgan, pointed out that while April’s Gross Gaming Revenue (GGR) didn’t quite match March’s impressive figures, there were encouraging signs of stabilisation as the month came to a close. This indicates that, despite an initial dip, there’s hope for a steady recovery or at least a stable plateau in the figures. It’s a reminder that the market has inherent strengths capable of offsetting seasonal dips.

2024 upturn

Recently, the brokerage firm CLSA has made updates to its financial predictions for the Macau gaming industry. In a detailed review, they’ve revised their 2024 Gross Gaming Revenue (GGR) forecast, now expecting it to reach a remarkable US$30.3 billion. This significant uplift in projections underscores CLSA’s confidence in the region’s gaming sector’s future prosperity.
This optimistic adjustment is largely tied to the anticipated increase in visitor numbers to Macau, a key factor that’s expected to bolster the financial robustness of its gaming industry. Such a trend not only highlights the potential for growth in the sector but also points to a recovering and thriving tourist environment.