Macau’s gaming industry has witnessed a considerable surge in May, with gross gaming revenue (GGR) touching MOP20.19 billion (US$2.51 billion) – an 8.9% increase from April’s GGR of approximately MOP18.55 billion. This figure marks the highest monthly performance since January 2020, when the city saw a GGR of MOP22.13 billion, just before the COVID-19 adversely impacted the industry.
The impressive surge in May was largely influenced by the May Golden Week, a five-day holiday in mainland China held in the first week of May to celebrate Labour Day. This festive time traditionally records a spike in tourism and gaming activity in Macau as visitors come to the city in large number. During this time around, we also see a large of number of people flocking to live poker rooms to play poker in the region.
As per a note from JP Morgan Securities (Asia Pacific) Ltd, the Golden Week in Macau was a “golden” period for casino GGR, indicating stronger than expected gaming revenue during this holiday time.
Year-on-year comparisons further indicate the strong recovery, with May’s GGR showing a 29.7 % increase from May 2023. Data released by Macau’s Gaming Inspection and Coordination Bureau signifies this upward trend, reflecting a robust recovery trajectory for the region’s casino industry.
Positive & Encouraging Data For Macau Gaming Industry
The data for the first five months of 2024 is positive and encouraging. Macau’s GGR for this period touched over MOP96.06 billion, a 47.9% increase from the same period in the previous year.
Several factors have contributed to this robust recovery such as relaxed travel restrictions, increased tourism, and pent-up demand for leisure and entertainment activities. Both the government and gaming operators have actively worked to attract tourists back to the city, with various campaigns and incentives. Additionally, the steady recovery from the pandemic situation in China has resulted in more and more visitors to Macau, further boosting tourism and gaming revenues in the region.
The May Golden Week’s success is prominent as it signifies the potential for high-revenue during public holidays and special events. Industry analysts and stakeholders are optimistic that Macau can maintain this upward trajectory by drawing more visitors during upcoming holidays and festivals.
In coming months, the continued recovery of Macau’s casino market will depend on several factors, such as the regional economic environment and travel policies. The recent performance give a positive sign for the remainder of the year and we hope that Macau’s GGR will continue to grow.
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Source: World Casino News
