In June 2024, the Macau casino industry saw a decline in revenue. It was the lowest revenue this year for the casino industry. However, the Macau casino industry quickly recovered from it in July with a 12% increase in revenue compared to July 2023, which was $2.3 billion, as reported by the Macau Gaming Inspection and Coordination Bureau.
However, this total fell short of revenue projections for the second consecutive month. Industry analysts predicted a 14% revenue increase, but July’s revenue remains at just 76% of the pre-pandemic level in 2019.
This shortfall is believed to be due to the seasonal dip in tourism, which surged during the May Golden Week holiday but reduced in June and July.
Besides, there were 12 weekend days (Friday to Sunday) in July 2024, which were 15 in 2023. Macau casinos always see a 20% boost on weekends.
In addition, industry experts believe the Chinese government cracking down on illegal money exchange played a pivotal role in the shortfall.
There used to be “money exchange gangs” that would provide cash to high-stakes gamblers from mainland China at high interest.
Despite all these setbacks, the Macau casino industry has continued to see positive growth since the pandemic with casinos and poker rooms witnessing the influx of poker players and gaming enthusiasts.
In July, in collaboration with the South Korean government, Korea extended the seating capacity of its flights to Macau, allowing more Korean gamblers to visit Macau on weekends.
Poker tournaments are also returning to the island after many tournaments were canceled due to unknown reasons, including the World Poker Tour.
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