The Macau Gaming Inspection and Coordination Bureau (DICJ) reported that gross gaming revenue (GGR) climbed to MOP 18.6 billion (US$2.31 billion) in July, marking an 11.6% increase year-on-year and a 5.1% rise from June.
These figures indicate that the industry has recovered 75.9% of its July 2019 levels, when Macau’s GGR was MOP 24.5 billion (US$3.04 billion).
The improvement in July is partly attributed to seasonality, with June traditionally being the weakest month of the year. However, most analysts predict this marks the beginning of a stronger finish for the year. The third quarter is expected to outperform the second, with the fourth quarter anticipated to be even stronger.
For the first seven months of 2024, cumulative GGR reached MOP 132.3 billion (USD 16.4 billion), up 36.7% year-on-year.
Seaport Research highlighted several key issues affecting Macau’s performance in Q2, including “operating expenses, player reinvestment, July trends and August outlook, the impact of cash flow constraints and their potential effect on gaming revenues, slow recovery of base weight, and potential expectations.” They anticipated a “slight increase” in GGR in Q3 due to seasonality, followed by a more significant 5.5% jump in the December 2024 quarter.
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