Macau's gaming industry experienced a slight downturn in December 2024, with gross gaming revenue (GGR) reaching MOP18.20 billion ($2.28 billion). This represents a 1.3 percent decline compared to November's GGR of MOP18.44 billion ($2.31 billion). Despite this decrease, the performance for the entire year, 2024, marks an important phase of recovery for Macau, which had been severely impacted by the COVID-19 pandemic. According to the Gaming Inspection and Coordination Bureau (DICJ), the December GGR also indicated a 2 percent reduction in comparison to the same month the previous year. The decline in December can be partly attributed to external factors such as disruptions caused by Chinese President Xi Jinping's three-day visit. This visit disrupted border activities, impacting Macau's gaming sector performances during that period.
Annual Revenue Analysis for Macau Casino
For the entirety of 2024, Macau's cumulative GGR reached MOP226.78 billion ($28.39 billion), marking a significant 23.9 percent rise compared to the year prior. The growth is a testament to the resilience of Macau's gaming sector as it continues to rebound from the pandemic's impacts. Removing travel restrictions in early 2023 set the stage for an influx of visitors, helping the city recover from stringent measures that lasted for three years. Preliminary visitor statistics pegs the figure at nearly 35 million, surpassing earlier expectations of 33 million visitors in 2024. This upsurge aligns with the second year of new gaming licenses for Macau's six concessionaires. Casino operators are navigating the evolving landscape by shifting focus from traditional junkets to leveraging mass market models and enhancing the premium mass segment. Such strategic adaptions have been integral to the positive outcomes observed in Macau's gaming industry this fiscal year.
Future Outlook and Government Expectations
The revenue outcomes in 2024 exceeded projections set by the Macau government, which anticipated GGR to reach MOP216 billion ($27.07 billion) in the fiscal year. The government's optimistic outlook now extends into 2025, with estimations projecting a further increase to MOP240 billion ($30.1 billion). This expected growth highlights the successful foundation laid for Macau's post-pandemic gaming industry recovery, supported by strategic shifts and improved conditions in the tourism sector.
As Macau continues its trajectory toward recovery, the city's gaming industry displays robust potential for achieving sustainable growth in the coming years. This growth trajectory is pivotal, as it underlines both operational resilience and adaptive strategies that operators are employing to navigate the new market dynamics effectively.
Source: Macau December GGR hits $2.28 billion, with FY24 at $28.39 billion, Asia Gaming Brief, January 1, 2025.
Posted by Wizard
Jan 03 2025
Jan 03 2025
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