Secretary for Economy and Finance Lei Wai Nong expressed confidence that the Macau SAR gaming sector will be able to generate MOP216 billion ($26.8 billion) in gross gaming revenue during 2024.
While speaking at the SAR’s Legislative Assembly today, Lei considered that these estimates were based on this year’s economic recovery, tourist numbers, gross gaming revenue from June to October, and the proportion of mass-market revenue that has returned to the 2019 levels.
The latest figures bring the cumulative tally for 2023 GGR to MOP148.44 billion ($18.44 billion) (January–October), a 315.6 percent yearly increase.
In the third quarter of this year mass-market gaming, including slot machines, reached MOP37.04 billion ($4.5 billion), accounting for almost 76 percent of Macau’s total GGR.
Currently, based on estimations considering tourist numbers and the spending patterns in mass and VIP, along with promotions targeting overseas markets, the government believes the city will be able to reach the MOP216 billion ($26.8 billion) mark.
Lei noted that the percentage of mass market revenue has essentially returned to the levels of 2019, but with some differences registered in the betting amounts in VIP rooms compared to 2019.
Presently, the ratio of spending between mass and VIP rooms is approximately 3:1, with mass accounting for about 75 percent and VIP rooms about 25 percent, a shift from the previous patterns of 4:6 and 5:5.
As for the execution of the non-gaming investment plans by the six gaming operators, Lei pointed out that by the year-end, concessionaires are expected to submit relevant execution reports, with authorities said to “rectify” any shortcomings in execution.
The Secretary highlighted that the implementation and promotion of non-gaming elements are beneficial in driving traffic to both the community and gaming operators.
The Secretary for Economy and Finance also revealed that the Executive challenged gaming operators to increase employees, with the concessionaires expected to effect increases between two and three percent next year.
