Macau recorded its highest gross gaming revenue since January 2020 in March, totaling MOP12.73 billion ($1.57 billion), up 247 percent yearly but still down 50 percent compared to 2019.
The figure rounds out a strong first quarter, in line with expectations, with total accumulated GGR reaching MOP34.64 billion ($4.29 billion), a 95 percent yearly increase but still down 54.5 percent when compared to 1Q19.
Expectations are now high for Macau to continue its solid GGR recovery this year, and even more in 2024, with Moody’s analysts predicting FY23 revenue to reach 45 percent of 2019 levels (MOP292.45 billion – $36.25 billion), or roughly MOP131.6 billion ($16.31 biliion).
1Q23 is also the first quarter after pandemic measures were lifted and tourists were allowed to come to Macau, as well as the first quarter for Macau’s six concessionaires under their new 10-year licenses.
Additionally, it’s the first post-pandemic quarter under Macau’s new mass-market focus, with junket revenue expected to contribute a minuscule amount compared to 2019.
Macau’s Gaming Inspection and Coordination Bureau (DICJ), which publishes the official data, is expected to release the quarterly breakdown, including VIP play numbers, by mid-April.
