Macau GGR in 2023 at $22 billion, marks 334% year-on-year increase

Gross gaming revenue (GGR) in Macau reached MOP$183.1 billion (US$22.7 billion) in 2023, a startling 334% annual increase and a steady recovery since the reopening of borders in January.

With December GGR of MOP$18.57 billion (US$2.30 billion), up 15.7% from November and up 433% year over year, the year concluded on a strong note. Compared to the previous year, when GGR reached MOP$292.5 billion (US$36.3 billion), this boosted gambling profits by 62.6%.

The new 10-year gaming concessions signed in December 2022 included a stipulation that their non-gaming investment commitments would increase by 20% if Macau-wide GGR exceeded MOP$180 billion in any of the first five years of the new concession period. This makes the FY23 result significant for Macau’s casino concessionaires.

The first year of the new concessions was when this “trigger event” happened. The six concessionaires had already committed to investing MOP$108.7 billion over a ten-year period, starting on January 1, 2023, and ending on December 31, 2032, in non-gaming initiatives.

Original story by: IAG