Macau’s gross gaming revenue (GGR – Gross Gaming Revenue) totaled US$2.4 billion in the first month of 2024. The increase represents 77% of the US$3 billion recorded in January 2019, before the pandemic.
According to data released by the local regulator, the Gaming Inspection and Coordination Office (DICJ), January marked a 67% increase compared to January 2023.
January bets in Macau surpass all months of 2023
The result also reflects an increase of 4% compared to the 2.3 billion dollars recorded in December. Only October 2023 equaled the results of January 2024, reaching US$2.4 billion.
Thus, throughout 2023, the GGR of Macau casinos reached US$22.68 billion. In other words, this represented an increase of 33.38% compared to the same period in 2022.
Morgan Stanley predicts that Macau’s mass-market gross gaming revenue will exceed 120% of pre-pandemic levels by the end of 2024.
The year 2023 marked the resurgence of Macau, the city was practically closed for three years to comply with health regulations.
Casinos needed to adapt to attract more audiences
2023 was also the first year of the six concessionaires’ new gaming licenses. So, operators had to adapt to the new environment. Casinos have switched to a mass-market model to attract more foreign gamblers.
Therefore, with the new gaming licenses, if Macau‘s annual GGR reaches or exceeds US$22.4 billion, the six concessionaires are required to increase their non-gaming expenditures by up to 20%.
However, Macau authorities have been cautious about disclosing the exact requirements of operators once the threshold has been exceeded.
