Gaming revenue in Macau totaled MOP19.50 billion (£1.99 billion/€2.29 billion/$2.42 billion) in October, the highest monthly amount since before the pandemic.
The total value is 400.2% higher than Macau’s MOP 3.90 billion in October 2022 and 30.5% higher than MOP 14.94 billion in September this year. The value is also the highest monthly total value so far this calendar year.
Perhaps more importantly, it is by far the largest monthly amount since the Covid-19 outbreak in early 2020. The previous peak post-pandemic was August this year when MOP17.21 billion was reported.
While the October figure is still below pre-pandemic sales levels, which regularly reach the mid-$20 billion range, it suggests that Macau is heading towards those heights again.
The last time Macau had gaming revenue of more than MOP20.00 billion was January 2020, just before pandemic restrictions were put in place.
Annual sales in Macau exceed MOP 148 billion
Looking at the figures for the current year, sales reached MOP 148.45 billion in the ten months to the end of October. This is 315.6% more than the MOP 35.72 billion at the same time last year.
However, it is important to note that year-on-year comparisons between 2022 and 2023 will be impacted by Covid-19 measures. Last year, Macau casinos were forced to temporarily close due to these measures. Travel in and out of the region was also restricted.
Today we see that all restrictions have been lifted in Macau. This allowed the market to be fully reopened; This can be clearly seen in the improving monthly figures.
Pandemic-related restrictions were eased after nationwide protests against the duration and strictness of the government’s “zero Covid” policy. Visitors from outside China no longer have to be quarantined and the number of flights to China is now no longer limited.
Genting Malaysia misses out on Macau concession
In addition to a relaxed operating environment, recent concessions in Macau were also confirmed in 2023.
Seven applicants applied Concessions. Incumbents Galaxy Entertainment Group, Las Vegas Sands, MGM Resorts International, Melco Resorts, SJM Resorts and Wynn Resorts have all put forward their names.
They were also joined by Genting Malaysia, which had applied for approval to launch in the region.
However, the six operators already operating in Macau were selected for the concessions. This meant the market remained flat and Genting missed out.
The new concessions began on January 1st and runs until December 31st, 2032.