Macau casino revenue could reach US$24.9bn in 2024, analysts say

In July, Macau recorded its best monthly performance since January 2020.

08/31/23

The forecast was made at an academic forum held by the Centre for Macau Studies.

Macau.- Gaming researcher Davis Fong Ka Chio has predicted that Macau’s aggregate casino revenue for 2024 has the potential to reach MOP200bn (US$24.9bn). Speaking at an academic forum held by the Centre for Macau Studies under the University of Macau, he suggested that gaming revenue for this year is likely to reach a range of MOP180bn to MOP190bn.

However, Macau faces fiscal challenges. Chief executive Ho Iat Seng, in a recent Legislative Assembly session, voiced concerns about an anticipated budget deficit. Fong agreed with Seng’s view that Macau needs to generate at least MOP230bn in annual casino revenue to balance its budget.

Government revenue for the first half of the year stood at MOP43.53bn, while expenses reached MOP40.9bn, leaving Macau to rely on reserves to address an anticipated shortfall. According to Macau Business, Fong attributed the potential gap to factors including increased government expenditures on public projects such as infrastructure and housing, as well as global influences like high interest rates and inflation.

In July, Macau recorded its best monthly performance since January 2020, at the beginning of the Covid-19 pandemic. GGR was MOP16.66bn (US$2.07bn), up 9.6 per cent month-on-month and up 4,083 per cent year-on-year. Casino GGR for the first seven months of the year was MOP96.80bn (US$12bn).

See also: Macau GDP up 117.5% in Q2

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