Macau faces growth in gaming revenue in August

Macau’s gaming revenue experienced a remarkable 686% year-on-year growth in August, reaching MOP 17.21 billion (approximately $2.12 billion). This surge is part of the ongoing recovery of Macau’s casinos from the impact of China’s zero-Covid policy, which was officially lifted at the beginning of 2023.

Comparing Macau’s recent performance to the same period in 2022 reveals substantial growth, with July 2023 reporting an astounding 4,083% annual increase as visitors return to the region.

In terms of year-to-date figures up to August 2023, Macau’s revenue has increased by 295% compared to the same period in 2022, totaling MOP 114 billion.

To put Macau’s performance in perspective, when comparing its 2023 revenue to Nevada’s July 2023 figures (where the US state recorded an all-time high of $1.4 billion), Macau still maintains a significant lead of approximately $700 million.

However, a more meaningful comparison is with Macau’s performance in 2019 before the Covid-19 pandemic. Despite the substantial recovery, Macau is still 29% below its August 2019 revenue of MOP 24.26 billion.

The full recovery of Macau’s gaming industry remains uncertain, as it may continue to gradually regain its former strength. Lingering questions persist about the lasting impact of Covid-19, especially as other destinations like Singapore become increasingly attractive to VIP gamblers who previously favored Macau. Additionally, the influence of junkets, which has weakened, contributes to the industry’s evolving landscape.

In summary, Macau’s recent gaming revenue surge is a positive sign of recovery, but it is still working toward fully rebounding to pre-pandemic levels, with various factors at play in the region’s evolving gambling landscape.

Original story by: Gambling Insider