Macau GGR up 67% in January
January’s GGR was the second-highest since the Covid-19 pandemic.
Macau.- The Gaming Inspection and Coordination Bureau has reported that Macau’s GGR for January was MOP19.34bn (US$2.4bn). That’s a rise of 4.5 per cent month-on-month. Revenue was up 67 per cent year-on-year and represented the second-best monthly performance since the Covid-19 pandemic.
Morgan Stanley has predicted that Macau’s GGR will rise 28 per cent year-on-year in 2024 and reach 80 per cent of pre-pandemic levels.
Macau’s GGR for 2023 was MOP183.06bn. That’s a rise of 333.8 per cent when compared to 2022. As Macau’s annual GGR exceeded MOP180bn (US$22.45bn), the six city’s casino operators are to increase their pledged non-gaming investment by 20 per cent.
This is due to the new 10-year concession contracts signed between casino operators and government from January 2023. The increase in spending will have to be maintained for the period between 2023 and 2032.
