Gross gaming and casino revenue in Macau grew 19 percent in June to MOP21.06 billion (US$2.6 billion), cementing the recovery of the gaming sector in the region.
Although the result was slightly below the post-pandemic peak in May (MOP 21.19 billion, or US$ 2.62 billion), the performance reinforced market confidence. The appreciation directly impacted the shares of American operators with a strong presence in Macau.
Shares of Wynn Resorts, whose two Macau casinos account for more than half of its global revenue, rose to $104.70 from $91.94 a week earlier — an increase of nearly 14%.
MGM Resorts, which also has two properties in Macau, saw its shares appreciate by more than 12%. Meanwhile, Las Vegas Sands, which operates six properties in the region, saw its shares increase by more than 10%.
Tourism was the driver of revenue
Tourism continues to be the main source of revenue in Macau. After the severe impacts of the COVID-19 pandemic, the flow of visitors is gradually returning to pre-crisis levels.
Although 2022 marked the lowest point due to travel restrictions, in 2023 the volume of tourists again exceeded 70% of the figures observed in 2019.
The Chinese special administrative region, the only one in the country to allow gaming, welcomed 34.93 million visitors last year — a 23.8% jump compared to the pre-pandemic period. The growth continued this year: in May alone, Macau registered more than three million tourists, an increase of 25% compared to the same month in 2024.
Stability marks new phase of Macau casino market
Casino revenue, previously under pressure from the pandemic and anti-corruption campaigns, is showing consistent signs of recovery. Data from May and June reflect the gradual strengthening of the sector, although still far from the historical records registered more than a decade ago.
In 2013, Macau peaked at MOP361 billion (US$44 billion) in gross gaming revenue. Since then, regulatory measures and domestic policies have impacted revenue levels.
From 2023 onwards, new laws were implemented, including a reduction in the term of licenses and a requirement for investments in non-gambling areas. In addition, stricter financial rules.
Sam Hou Fai, Macau’s chief executive since 2024, stressed the importance of economic diversification. For him, “the gaming industry is Macau’s main industry and if it does not develop healthily, it will have far-reaching consequences.”
Finally, recent revenues indicate that operators have successfully adapted to the new regulatory environment. Even without reaching the 2013 figures, the sector shows signs of stability and sustained growth.
