Macau sets new post-COVID gaming revenue record of €2.24 billion in March

Jenny Ortiz April 1, 2024

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Macau sets new post-COVID gaming revenue record of €2.24 billion in March

Macau, the renowned gaming hub, witnessed a significant resurgence in its gross gaming revenue (GGR) for March, soaring to MOP19.50 billion (€2.24 billion), marking a remarkable 49-month high.

This surge represents a notable 5.5 percent increase from February’s figures of MOP18.5 billion (€2.12 billion) and a marginal 0.01 percent uptick from the last post-COVID peak observed in October, standing at MOP19.5 billion (€2.23 billion).

Over 50% increase from 2022 data

Data released by the Gaming Inspection and Coordination Bureau (DICJ) revealed a staggering 53.1 percent surge in March’s GGR compared to the same period last year. However, despite this impressive rebound, the current figures still indicate a 24.5 percent decline from the pre-pandemic levels recorded in March 2019, which totaled MOP25.8 billion (€2.97 billion).

Gaming sector’s resilience

Despite the lingering impact of the pandemic, Macau’s gaming sector showcased resilience in the first quarter of 2024, with casino GGR reaching MOP57.33 billion (€6.59 billion), reflecting a robust 65.5 percent increase from the previous year. Nonetheless, the figures remain 24.7 percent lower compared to the first quarter of 2019, underscoring the enduring challenges faced by the industry.

Boost from the Easter holidays

The Easter holidays from March 29 to April 1 coincided with the surge in visitor arrivals to Macau. Data from the government revealed a notable influx, with approximately 330,000 visitors recorded during the first three days of the holiday period, peaking at 122,000 visitors on the second day. The number matched the Macau Travel Industry Council’s prediction that China’s Special Administrative Region’s daily average of visitors could exceed 100,000.

Although Easter is not recognized as a public holiday in Mainland China, its observance in Hong Kong and Macau fueled increased tourist traffic. This surge underscores the region’s importance as a prominent tourist destination, despite variations in holiday observance across neighbouring regions.

Shift in customer base

The resurgence of visitors not only marks Macau’s recovery but also indicates a shift in its customer base. Formerly dominated by high-stakes players, the city is now drawing in more mass-market gamblers. This transition underscores Macau’s adaptability and resilience in challenging times.