Macau casino GGR surged by 67% year-on-year

Macau’s casino gross gaming revenue (GGR) reached MOP19.34 billion or US$2.40 billion in January, according to the Gaming Inspection and Coordination Bureau.

This marks the second-highest monthly total since COVID-19, as well as an increase of 67.0 percent year over year.

This resulted in a 4.1% rise over the December MOP18.57 billion. Despite sluggish seasonality leading up to the Chinese New Year vacation period, Macau’s daily casino GGR in January had a solid run-rate, according to JP Morgan Securities (Asia Pacific) Ltd.

This year, the Chinese New Year holiday falls from February 10 to February 17. According to reports, mass income in January exceeded pre-Covid levels by almost 100%.

In 2023, Macau’s GDP increased to MOP183.06 billion, a 333.8 percent increase from the previous year. The huge increase in January 2022 may have resulted from Macau’s removal of COVID-19 limitations and travel restrictions.

With the expectation that the city’s casino GGR would exceed MOP180 billion in 2023, the six local casino operators will have to augment their 20% non-gaming commitment. This requirement stems from ten-year concession agreements with the local government that went into force in January 2023.

If Macau’s yearly GGR reaches or exceeds MOP180 billion by 2027, casino operators will need to increase their total non-gaming and foreign marketing expenditure demands by at least 20% between 2023 and 2032.

Original story by: GGRAsia