Macau’s gross gaming revenue (GGR) amounted to MOP20.7 billion ($2.5 billion) in October, reflecting a 6.6 percent increase from the same month of last year, and the best monthly tally of 2024.
According to data released by the local regulator, the Gaming Inspection and Coordination Bureau (DICJ), the October total also marked a 20.4 percent rise from September. The month usually sees a higher daily run-rate due to the National Day Golden Week.
The result also represents a 21.3 percent decrease from the MOP26.4 billion ($3.3 billion) reported in October 2019, before the pandemic.
For the first ten months of 2024, Macau’s casino GGR reached MOP190.1 billion ($23.7 billion), up 28.1 percent from the previous year but still 23 percent lower than the same period in 2019, which amounted to MOP246.9 billion ($30.8 billion).
Previously, analysts such as the investment bank China International Capital Corporation (CICC) predicted a 4 percent quarter-on-quarter increase and a 5 percent year-on-year increase in total gross gaming revenue (GGR).
VIP baccarat revenue in Macau for the third quarter of 2024 was just under MOP13.08 billion ($1.64 billion), accounting for 23.5 percent of the total gross gaming revenue (GGR) of nearly MOP55.6 billion ($6.95 billion) during the period.
Macau’s tourism authorities are expecting 2024 should see 33 million visitors, representing a nearly 17 percent increase from 2023. This projection is based on the fact that the Chinese government has added 10 more cities to the Individual Visit Scheme (IVS).
