{"id":777003995,"date":"2023-04-04T13:38:09","date_gmt":"2023-04-04T16:38:09","guid":{"rendered":"https:\/\/focusgn.com\/asia-pacific\/?p=777003995"},"modified":"2026-04-22T23:08:34","modified_gmt":"2026-04-23T02:08:34","slug":"macau-ggr-to-reach-us20-78bn-in-2023-analysts-say","status":"publish","type":"post","link":"https:\/\/focusgn.com\/asia-pacific\/macau-ggr-to-reach-us20-78bn-in-2023-analysts-say","title":{"rendered":"Macau GGR to reach US$20.78bn in 2023, analysts say"},"content":{"rendered":"\n

Macau’s gross gaming revenue is now expected to be up 293 year-on-year but still down 43 per cent against pre-pandemic levels.<\/p>\n\n\n\n\n\n\n\n

Macau.- Analysts at Deutsche Bank<\/strong> have predicted that Macau’s gross gaming revenue (GGR) will reach US$20.78bn in 2023, a 293 per cent increase from last year<\/strong>. However, this would still be 43 per cent lower than pre-pandemic levels in 2019.<\/p>\n\n\n\n

Analysts estimate that US$15.1bn will come from the mass-market<\/strong>, with the remaining US$5.6bn from VIP gaming. This shift in revenue is a result of operators’ efforts to reduce dependence on high-rollers.<\/p>\n\n\n\n

In 2022, Macau recorded GGR of MOP42.2bn (US$5.3bn)<\/a>, a 51.4 per cent decrease from the previous year and the lowest single-year total since 2004. However, the city’s gaming and tourism sectors have seen improvements since the lifting of pandemic prevention and movement restrictions earlier this year.<\/p>\n\n\n\n

The Gaming Inspection and Coordination Bureau (DICJ) has reported that Macau\u2019s gaming industry<\/a> generated MOP12.73bn (US$1.57bn) in GGR in March \u2013 down 50.7 per cent compared to March 2019. For the first quarter of 2023, gaming revenue was MOP 34.6bn, representing a 94 per cent year-on-year increase.<\/p>\n\n\n\n

Deutsche Bank Securities Gaming & Lodging Research managing director Carlo Santarelli<\/strong> noted that Sands China was responsible for a quarter of all gaming revenues in the first quarter of 2023, followed by Galaxy (19 per cent), MGM (16.3 per cent), Wynn Macau (14.2 per cent), Melco Resorts (13.1 per cent), and SJM (11.6 per cent).<\/p>\n\n\n\n

Moody\u2019s Investors Service<\/strong> had previously predicted that Macau\u2019s GGR will reach 45 per cent<\/strong> of pre-Covid-19 levels this year. In 2019, Macau\u2019s GGR was just below MOP292.46bn (US$36.5bn). In 2022, it was just 14 per cent of that<\/a> due to Covid-19 lockdowns and travel restrictions.<\/p>\n","protected":false},"excerpt":{"rendered":"

Macau’s gross gaming revenue is now expected to be up 293 year-on-year but still down 43 per cent against pre-pandemic levels.<\/p>\n","protected":false},"author":176,"featured_media":26708,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"is_press_release":false,"is_interview":false,"is_opinion":false,"focusai_summary":"Macau's GGR is projected to reach US$20.78bn in 2023, a 293% year-on-year increase, yet still 43% below 2019 pre-pandemic levels. This recovery is primarily driven by the mass market, reflecting operators' strategic pivot away from VIP dependence, with Sands China leading Q1 2023 market share.","focusai_entities":"Deutsche Bank, Sands China, Galaxy, MGM, Wynn Macau, Melco Resorts, SJM, Moody's Investors Service, Gaming Inspection and Coordination Bureau (DICJ), Carlo Santarelli","focusai_location":"Macau","focusai_target_profile":"ceo_executive (1.0), regulator (0.9), compliance_legal (0.7), operator_casino (1.0), investor_analyst (1.0), supplier_vendor (0.9), journalist_researcher (1.0)","focusai_suggestions":[{"label":"Mass Market Sustainability","query":"What are the long-term implications of Macau's sustained pivot towards mass-market gaming on operator profitability, infrastructure investment, and the overall governance framework for non-gaming diversification?"},{"label":"GGR Recovery Trajectory","query":"Given the current GGR recovery trajectory, what specific macroeconomic factors and regulatory adjustments are critical for Macau to fully regain its pre-pandemic revenue levels, and what is the projected timeline for this achievement?"}],"footnotes":""},"categories":[157,16338],"tags":[23907,23906],"class_list":["post-777003995","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-business-news","category-east-asia-news","tag-land-based-casino","tag-macau-casinos"],"_links":{"self":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/777003995","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/users\/176"}],"replies":[{"embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/comments?post=777003995"}],"version-history":[{"count":3,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/777003995\/revisions"}],"predecessor-version":[{"id":777004024,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/777003995\/revisions\/777004024"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/media\/26708"}],"wp:attachment":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/media?parent=777003995"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/categories?post=777003995"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/tags?post=777003995"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}