The City of Macau hit a new high with July achieving gross gaming revenues of USD 2.06B; mass-oriented casinos brought Macau’s gaming industry to a 4000% increase year on year; the performance is touted as the highest in 42 months–before the global COVID pandemic.
Original story by Viviana Chan for Asia Gaming Brief
Macau’s casino gross gaming revenue (GGR) grew by 9.6 percent month-on-month, to MOP$16.66 billion ($2.07 billion) in July, according to data released Tuesday by the city’s casino regulator, the Gaming Inspection and Coordination Bureau (DICJ).
The July result was up 4,083 percent year-on-year. The extreme increase was due to the low basis in July 2022, when the city suffered shutdowns.
The July result was the highest monthly performance since January 2020, exceeding the May GGR of MOP15.57 billion ($1.93 billion).
Macau’s casino GGR stood at MOP96.80 billion ($12 billion) for the first seven months of the year, an increase of 263 percent from a year earlier. The tally represents only 56 percent of the GGR of 174 billion ($21.6 billion) generated from January to July 2019.
In the city’s chief executive’s 2023 policy address last November, the Macau government estimated 2023 gross gaming revenue at MOP130 billion ($16.25 billion).
Although Macau’s tourism recovery continues, the government insists on its budget estimate.
According to data from the government, Macau had a daily average of over 80,000 visitor arrivals in the summer period and had an aggregate of 11.6 million visitor arrivals in 1H23. The Government expects 24 million tourists by the end of the year.
To learn more about what brought the success of this month’s for the special administrative region of China, read the original story by Viviana Chan at https://agbrief.com/news/macau/01/08/2023/macau-ggr-hits-42-month-high-of-mop16-66-billion-in-july-copy/
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