Macau's Gambling Revenue Soars, Approaching Pre-Pandemic Levels

In October 2023, Macau's gambling revenue hit an astonishing high, recording a massive 400.2% increase compared to October 2022, reaching MOP 15.62 billion. This surge also represents a 30.5% jump from the previous month's revenue of MOP 14.94 billion, making it the highest monthly total for the year.

What's truly remarkable about this achievement is that it's the largest monthly revenue since the onset of the COVID-19 pandemic in early 2020. The previous post-pandemic peak was in August of the same year, with revenue hitting MOP 17.21 billion.

While Macau hasn't quite reached its pre-pandemic revenue levels, typically exceeding MOP 20 billion monthly, it clearly indicates that the region is on its way back to those heights. The last time Macau saw revenue surpass MOP 20 billion was in January 2020, shortly before pandemic-related restrictions were enforced.

Year-to-date revenue figures in Macau also show a remarkable recovery, totaling MOP 148.45 billion for the first ten months of 2023. This reflects a remarkable 315.6% increase compared to the same period in 2022. However, it's essential to consider that year-on-year comparisons are influenced by COVID-19 measures. Last year, Macau's casinos faced temporary closures and travel restrictions.

In the present, Macau has fully reopened, with all pandemic-related restrictions lifted. This marks a stark contrast to the previous year when nationwide protests led to the relaxation of pandemic-related restrictions. Visitors from outside China are no longer required to quarantine, and the number of flights to China is no longer limited.

In addition to this favorable operating environment, 2023 also brought news of the latest round of Macau concessions. Seven applicants vied for these concessions, including well-established names like Galaxy Entertainment Group, Las Vegas Sands, MGM Resorts International, Melco Resorts, SJM Resorts, and Wynn Resorts. A notable contender was Genting Malaysia, seeking approval to enter the market.

However, the concessions ultimately went to the six operators already active in Macau. This decision means that the market remains unchanged, and Genting Malaysia missed out on the opportunity.

The new concessions officially started on January 1 and will extend until December 31, 2032. Macau's gambling industry is poised for a resurgence, with promising signs of recovery and an exciting future ahead.