Major Asian gambling and betting hub Macau released its July 2023 revenue report, revealing that the region reached a total of MOP 16.66 billion (US$2.07 billion) in GGR.
This number represents a 10% increase compared to June 2023 and an incredible 4,086% increase compared to July 2022.
In addition, year-to-date figures for Macau are 236% higher than in 2022, totaling MOP 96.80 billion.
These numbers not only represent a significant increase from the previous year, but also show Macao’s recovery as the region is freed from China’s Covid-zero policy.
The figure of MOP 16.66 billion is the highest reported since the beginning of the pandemic, although it is still below July 2019, which totaled MOP 24.45 billion.
Which means Macau still has a long way to go before a full recovery can be heralded.
There is a possibility that Macau will never fully recover from the impact of Covid, as other places in Asia have been capturing large parts of the businesses that the region used to depend on.
Singapore and the Philippines are responsible for attracting many of the VIPs who used to gamble (almost) exclusively in Macau.
Comparing Macau’s July figures with Nevada‘s June figures show that Macau’s MOP 16.66 billion is much higher than Nevada’s MOP 1.25 billion.
Also, while Nevada’s numbers show a 2% year-on-year decline, Central Asia, on the other hand, is only growing – although it has a larger base that it is trying to regain again.
The coming years promise to provide an even more expressive evolution, with several technological innovations arriving for the iGaming industry in Asia and in the world.
