Battle of the Titans: Macau’s May revenue was $760 million higher than Las Vegas

Battle of the Titans: Macau’s May revenue was $760 million higher than Las Vegas

The publication of recent monthly earnings reports in Macau and Las Vegas allows a comparison of the performance of these major gambling centers. The Chinese enclave earned $760 million (R62.74 billion) more than Vegas casinos in May, but Macau has room to grow.

It was a profitable month for the state of Nevada, with revenues up 3% to $1.16 billion (R95.76 billion). Clark County, where the famous Las Vegas Strip is located, accounted for 995 million (82.14 billion rubles). Slot machines brought in $389.4 million (32.14 billion rubles), a growth of 8%. Blackjack brought in $74.1 million (RUB6.11 billion), with an increase of 6%.

At the same time, Macau recorded a 366% year-over-year increase in May revenues. The amount was $1.92 billion (158.5 billion rubles). However, the figures are still below pre-pandemic levels. In 2019, Macau’s revenue was $36 billion (2.972 trillion rubles). This year, the annual figure is estimated to be $16 billion (1.32 trillion rubles).

This lag is partly due to Macau’s shrinking share of the Asian VIP market – from 66% to 41%. At the same time, its main competitor, Singapore, showed growth in this segment, from 8% to 21%. The relevant information was presented at G2E Asia.

The specifics of the changes in the financial indicators of the two global gambling centers over the past three years are related to the reaction of local governments to the coronavirus pandemic. In the U.S., Las Vegas casinos were able to re-energize when the vaccination began to bear fruit. China chose a policy of strict restrictions that caused Macau to lose revenue and attendance for several years.

Meanwhile, the G2E Asia 2023 International Special Edition takes place in Singapore.

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