Macau GGR Sets New Post-Pandemic Record at US$2.6 Billion in October 2024

The gaming sector of Macau achieved remarkable growth in October 2024, generating gross gaming revenues (GGR) of MOP$20.8 billion (US$2.6 billion). This figure marks a significant recovery in the post-pandemic landscape and highlights the region’s resurgence as a top destination for gaming and tourism.

A key driver behind this record-breaking performance was the National Day Golden Week holiday, which took place at the start of the month.

Data from the Gaming Inspection and Coordination Bureau (DICJ) reveals that the GGR for October not only surpassed the previous month but also exceeded the same month last year. Specifically, October’s revenue represented a 6.6% increase compared to October 2023 and was 20% higher than September’s GGR of MOP$17.3 billion (US$2.16 billion). This result is especially noteworthy as it outperformed the previous post-pandemic record of MOP$20.2 billion (US$2.52 billion), set in May.

In the first ten months of 2024, the cumulative GGR reached MOP$190.1 billion (US$23.7 billion). This figure indicates a robust growth rate of 28.1% over the same period in 2023, underscoring the gaming industry’s strong recovery trajectory.

The influx of visitors during the National Day Golden Week played a crucial role in this surge. Macau welcomed nearly a million visitors—993,117 to be exact—during this holiday week, marking an increase of 1.9% compared to pre-pandemic levels in 2019. Such a substantial visitor count is indicative of growing confidence in travel to Macau and the overall attractiveness of the region.

Hotel occupancy rates during the Golden Week were exceptionally high. The average occupancy hovered around 94.5%, with peak days reaching an impressive 98.5% on October 3 and 4. These figures not only reflect the popularity of Macau as a travel destination but also highlight the city’s ability to attract tourists eager to participate in its vibrant gaming and entertainment offerings.

Market analysts have noted that the positive trends did not stop with the holiday. The weeks following the Golden Week holiday showed sustained strength in the gaming market, leading many experts to raise their revenue forecasts for the coming months. This optimism stems from a combination of factors, including the return of international tourists and the continued popularity of Macau’s casinos.

Read related article: Macau GGR to increase 5% YoY in 4Q24 on stronger yuan: CICC