Macau reports 30.6% month-on-month increase in casino GGR for October

The gross gaming revenue (GGR) from Macau’s casinos climbed by 30.6% month over month in October, reaching just over MOP19.50 billion (about US$2.42 billion), according to the Gaming Inspection and Coordination Bureau.

Since the start of the COVID-19 pandemic in January 2020, when the GGR reached MOP22.13 billion, this was the greatest monthly GGR.

October’s GGR was the “highest print in 45 months,” according to JP Morgan Securities (Asia Pacific) Ltd. It also above the market consensus of MOP19.2 billion, which was previously reduced from MOP19.0 billion. Analysts at JP Morgan claim that the October data shows that mass GGR has finally recovered above pre-COVID levels for the first time, with a robust Golden Week helping it to reach 105% in October 2019.

The strong October results came after Macau’s GGR fell 13.2% in September on a month-over-month basis. With a monthly GGR performance of MOP17.21 billion in August, it was the best since January 2020.

GGR climbed by 400.2% between October 2023 and the same period in the previous year since travel restrictions connected to COVID-19 were still in effect in the previous year. Official data shows that GGR in October 2023 was 73.7% of what it was in October 2019.

Based on these data, Macau’s gross domestic product (GGR) increased 315.6% from the same period in 2022 to over MOP148.45 billion in the first 10 months of 2023.

Original story by: GGRAsia