Macau’s gambling industry continues to recover from a huge downturn due to the pandemic. According to current financial reports, in January 2024, the sector’s gross revenue amounted to US$2.4 billion. That’s about 77% of the 2019 figure. Before the pandemic, the industry’s gross revenue for the same period was US$3 billion.
The increase in financial performance is attributed to the rejection of restrictions both within the casinos themselves and in Macau. Tourism is gradually recovering, which has a positive impact on the economic health of the region.
According to the local regulator, gross revenue in January 2024 increased by 67% compared to the same period last year. This is the best result in the past 12 months. Growth was also noted in relation to the indicators for December. Last month, this parameter amounted to 2.3 billion dollars, which is 4% less than the January results. In October 2023, the figures were similar to the current figures, but in that period in theIt was National Day holiday week.
For the full year 2023, the total gross revenue of Macau’s gaming industry reached US$22.68 billion. This is a 333% increase from 2022.
Overall, 2023 was a period of revitalization for Macau. For three years, the city had fallen on hard times, being virtually closed to tourists. But with the lifting and easing of restrictions on entry and public places, the gambling business began to recover quickly.
Financial company Morgan Stanley gives a positive outlook on the future growth rate of Macau’s gambling business. Analysts estimate that the 2024 results will not only reach the pre-pandemic level, but will exceed it by 120%. In the future, gross gambling revenue in the region will increase at the same rapid pace.
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