Macau’s Casino industry generated MOP17.69 billion in gross gaming revenue (GGR) in June, representing a 16.4% increase from June 2023 but a 12.4% decrease from the previous month of May 2024. The June revenue of MOP17.69 billion was the lowest monthly total so far this year, as per data from the Gaming Inspection and Coordination Bureau (DICJ).
Despite being an increase over the MOP15.2 billion recorded in June 2023, it was a notable drop from the MOP20.2 billion achieved in May 2024.
May had been Macau’s best month since the onset of the COVID-19 pandemic in January 2020, with a revenue of MOP20.2 billion. Experts had predicted seasonality factors would affect June’s figure following the holidays in May. May is generally recommended as a better time to visit Macau, as the weather is more settled compared to June.
The first six months of 2024 have been marked by ups and downs for the Macau casino industry. Macau’s Casinos generated MOP113.8 billion in total GGR, marking a 41.9% increase from the same period last year. However, this revenue is still 23.9% short compared to the first half of 2019, before the pandemic.
The current increase in gross gaming revenue is proof that Macau’s casinos are steadily recovering from the severe impact of COVID-19, which was a big setback for the casino industry. Nonetheless, several factors have contributed to the downturn in June, including the UEFA Euro 2024, and the popular poker series World Series of Poker.
Additionally, the low “win rate” significantly backfired in Macau casinos, as the high-spending gamblers were winning more often than the casino had anticipated. This negatively impacted casinos’ overall GGR.
According to early reports, Macau’s full-year 2024 Gross gaming revenue will reach approximately 88% of pre-pandemic levels seen in 2019. The Macau government believes that GGR will hit MOP216 billion in the year 2024.
Despite the revenue dip in June 2024, industry analytics remain confident regarding the future. Since Macau’s economy is heavily reliant on the gaming sector for its GDP, consistent growth in casino earnings is a positive sign for the region.
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