Macau’s Chief Executive is expecting gross gaming revenue for 2023 to reach or exceed MOP180 billion ($22.4 billion), some MOP50 billion ($6.22 billion) more than the government had previously expected.
In statements to the media after the celebration of the SAR’s 20th Establishment Day, the top official noted that GGR results through November had topped MOP160 billion ($19.91 billion).
Official data from the gaming watchdog (DICJ) placed GGR at MOP164.49 billion ($20.47 billion) for the first 11 months of the year, an annual increase of 324.9 percent.
According to an official government release, the top official also indicated that the SAR is still working to attract more foreign visitors, with those from mainland China still comprising 65 percent of visitation. The CE indicated that visitation from Southeast and Northeast Asia has been ‘satisfactory’, while long-haul markets such as Europe and America have yet to reach 10 percent of total visitation.
The government has mandated that gaming operators bring in more foreign visitors, as well as attracting non-gaming visitors, as part of their obligations under their gaming licenses – which commenced on January 1st.
The 10-year licenses also include dedications to revamp various areas of Macau and spread tourists around to new and revitalized districts. The government’s goal is to again reach the number of tourists seen in 2019, which totaled nearly 40 million.
Speaking broadly of the economy, the top official noted a recovery to 70 percent of 2019 levels, with hopes that 2024 could see a full recovery.
In addition, unemployment levels continue to drop, but the Chief Executive pledged ‘rigorous control’ of non-resident worker numbers, aiming to be level with those seen in 2019.
