Macau reported a total casino gross gaming revenue (GGR) of MOP226.78 billion (€27.45 billion) for 2024, reflecting a 23.9% rise compared to 2023. These figures, released by the region’s Gaming Inspection and Coordination Bureau (DICJ), exceeded the government’s initial forecast of MOP216 billion outlined in its fiscal budget.
December GGR reached MOP18.20 billion, a slight drop of 1.3% from November’s MOP18.44 billion and a 2% year-on-year decline. December was the only month in 2024 to post negative growth, with analysts attributing the dip to reduced gaming activity during Chinese President Xi Jinping’s visit that month.
For 2025, the Macau government has set a conservative GGR target of MOP240 billion, confirmed by current chief executive Sam Hou Fai in the 2025 fiscal budget. Additionally, tax revenue from commissions paid to junket operators is projected to increase to MOP100 million, a significant rise of 233.3% compared to the MOP30 million estimate for 2024.
Visitor Numbers Fuel Growth
Macau welcomed 34.93 million visitors in 2024, marking a 23.6% increase from 2023. According to preliminary data from the Public Security Police Force, this figure represented 88.6% of pre-pandemic levels recorded in 2019.
Mainland China accounted for the largest share of visitors, with 24.48 million arrivals (70.1% of the total), up 28.6% year-on-year. Visitors from Hong Kong numbered 6.99 million, representing 20.6% of the total, while arrivals from Taiwan accounted for 2.4%. International visitors reached 2.41 million, a 66% increase from 2023, representing 6.9% of total arrivals and 79% of 2019’s international visitor count.
The 2024 visitor numbers surpassed the government’s projection of 33 million, which included an estimated 3 million overseas arrivals. The year ended on a high note, with 325,753 visitors arriving during the three-day period from December 30 to January 1, averaging 108,580 visitors per day.
Looking ahead, the Macau government forecasts 36 million visitor arrivals in 2025, reflecting continued recovery in regional and international travel, alongside sustained growth in the tourism and gaming sectors.
Gaming Regulator Leadership Transition
As of late December, the DICJ remained without a permanent director following the reassignment of Adriano Ho to Customs Commissioner. In the interim, deputy directors Lio Chi Chong and Chui Hou Ian have been overseeing operations. Ho previously served as DICJ director for over four years.
In addition to this transition, the government announced several other key appointments: O Lam was named Secretary for Social Affairs and Culture, Tai Kin Ip was promoted to Secretary for Economy and Finance, Tam Wai Man was appointed as the new Secretary for Transport and Works.
These appointments are part of a broader restructuring under Macau’s sixth-term chief executive, Sam Hou Fai.
Continued Economic Recovery and Outlook
The city’s optimistic outlook for 2025 aligns with ongoing regional recovery trends and increased visitor traffic from key markets, including mainland China, Hong Kong, and international destinations. The government’s projections reflect confidence in Macau’s continued economic rebound, driven by tourism and gaming growth.
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