Macau recorded casino gross gaming revenue (GGR) of MOP15.21 billion ($1.88 billion) in June, down 2.3 percent from MOP15.57 billion in May. This is the first month the city reports GGR dropping month-to-month since all travel restrictions were removed.
According to information from the Gaming Inspection and Coordination Bureau (DICJ), the latest monthly tally was up 514 percent from June 2022, when the GGR was only MOP 2.48 billion ($307 million).
The May result was the second-highest monthly performance since January 2020.
Macau’s casino GGR stood at MOP80,14 billion ($9.93 billion) for the first half year, an increase of 205 percent from a year earlier. The tally represents only 54 percent of GGR of 150 billion ($18.5 billion) in 1H19.
In the city’s chief executive’s 2023 policy address last November, the Macau government estimated 2023 gross gaming revenue at MOP$130 billion ($16.25 billion). Although Macau’s tourism recovery continues, the Government insists on its budget estimate.
According to data from Government, Macau had a daily average of over 70,000 visitor arrivals in June and had an aggregate of nearly 9.44 million visitor arrivals for the first five months of this year, of which just above 6 million – or 64.6 percent – were from mainland China. The Government expects more than 20 million tourists by the end of the year.
Speaking to AGB, the former director of the Macau Association of Gaming and Entertainment Promoters, Luiz Lam believes that the Macau gaming industry recovery has stepped into a steady phase. Based in his observation, he admits that he will not say the GGR has peaked already. However, he considers that 2023 GGR may not surpass MOP 200 billion ($24.8 billion) levels, which means that the second half of this year will not have a significant rise compared to the current revenue level.
Various analysts pointed out that non-gaming activities, such as concerts, provide a significant boost to mass market revenue. But the return of international visitors is still restricted by not a full recovery of flight capacity.