Macau chief executive maintains 2024 GGR target

Ho Iat Seng is confident the city’s casinos will hit the monthly average of MOP18bn.

Macau.- Chief executive Ho Iat Seng remains optimistic about the city’s gross gaming revenue (GGR) prospects for 2024. He believes the target of a monthly average of MOP18bn in GGR is attainable.

According to Macao Daily News, Seng described the city’s economic recovery after Covid-19 as “stable” as he toured various districts with officials. He also emphasised the need for rejuvenation efforts from casino operators.

Macau exceeded analysts’ expectations by achieving MOP19.34bn (US$2.35bn) in GGR last month. Analysts project a further uptick in February, with the daily run rate predicted to surpass January’s average. Morgan Stanley forecasts that GGR could reach MOP20bn this month and will reach 80 per cent of pre-pandemic levels for the full year.

See also: Macau GGR reaches US$310.3m in first 4 days of February

Macau’s GGR for 2023 was MOP183.06bn. That’s a rise of 333.8 per cent when compared to 2022.