Macau GGR to reach US$27.4bn in 2024, analyst says
Davis Fong anticipates total gross gaming revenue in line with government projections.
Macau.- Professor Davis Fong, the director of the Institute for the Study of Commercial Gaming, has predicted that gross gaming revenue (GGR) in Macau will reach US$27.4bn in 2024. That mirrors government estimates.
During a recent interview, Fong emphasised that the forecast relies on the return of mainland tourists to pre-pandemic levels and sustained progress in expanding the international market. He noted that cumulative GGR for January to October 2023 surpassed government expectations, reaching MOP148.44bn (US$18.44bn). Fong suggested the annual total could hit US$22.4bn.
Analysts at JP Morgan Securities (Asia Pacific) have reported that GGR for the first five days of November was MOP2.8bn (US$347.6m), equivalent to an average daily revenue of MOP560m. The Macau tourism office has predicted that Macau could record nearly 27 million visitor arrivals by year-end. Fong believes that with continued growth in mainland Chinese visitors, the tally could rise further in 2024.
